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By how much did the disposable income of rich people decrease as a result of the 2012 hike in the top marginal tax rate from 35 to 39.6 percent? Assume they have $2 trillion of gross income in the highest bracket.
Instructions: Enter your response rounded to the nearest positive whole number (do not include a negative (-) sign).
$ billion
The economy begins in long-run equilibrium. Then one day, the president appoints a new chairman of the Federal Reserve. This new chairman is well known for her view that inflation is not a major problem for an economy.
Elucidate unemployment in relation to the Phillip's curve with an appropriate sketch.
One critic of the North American Free Trade Agreement argued that "it can't be in our interest to sign this deal; Mexico gains too much from it." What does the theory of the gains from trade have to say about that criticism?
COMPARATIVE ADVANTAGE: Shoes come in pairs: A left (foot) shoe has to find a right (foot) shoe. A representative worker in the North can produce EITHER 30 right shoes OR 10 left shoes. How many pairs of shows the North will produce in the case of aur..
Whenever there is an outflow of funds from any of the balance of payments accounts, it is recorded as a __________ , and called _______ .
A tailor must make 6 of the same size suits for a client. The first suit took 14.7 hours to make and the last suit took 7.9 hours to make. What was the tailor's learning curve % of this run of suits assuming a steady state of production is never reac..
Using demand–supply diagrams in the labour market, show what it means that there is a minimum wage but it is not “binding”. Should we have unemployment if it is not binding?
q.a construction company is bidding on a project comprising five high-rise buildings to be erected one after the other.
what should you do when the manager of a perfectly competitive firm whose short run cost is TC = 100 + 160Q + 3Q2. If the market price is $196.
Why does a newspaper dispenser open to a stack of newspapers and essentially “trusts” a consumer to take just one copy whereas a soft drink vending machine does not “trust” consumers and dispenses one can for each purchase? Describe how marginal util..
What is the probability that more than 200 cars will require service work in a particular month? What is the probability that fewer than 175 cars will need service work in a given month?
Illustrate what are the arguments for using real per capita GNI to compare living standards between countries. What weakness does this measure have.
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