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A, distribution of income among various population groups followed roughly the same patterns in the USA, Sweden, and the former Soviet Union, despite the very different forms of economic organization in each of those countries. Progressives and socialists today claim that if we had a planned economy in which government directed the direction of resources and confiscated money from wealthy people via high taxes, and then re-distributed those monies, that income inequality would be eliminated. Yet, that clearly was not the case in high-tax Sweden and the communist USSR. (In the USSR, the high-income groups tended to be those with membership in the Communist Party, about six percent of the population. Party membership was not easily obtained back then.)
Economically speaking, why would this situation be the case, despite what modern academics, politicians, journalists, and activists are saying today? Please be specific in your answer.
McDonald's has enough time to hire or lay off workers but it does not have enough time to expand its kitchen or add an additional seating area.
Briefly state basic characteristics of pure competition, pure monopoly, monopolistic competition and oligopoly. Under which of se market classifications does each of following most accurately fit.
Show how moving from a lump sum tax to a linear tax affects outcomes in terms of output and work effort. What is the effect on economic efficiency? How does your picture show this? You should use a linear PPF.
What are the factors that may cause businesses to prefer using the hedging strategy over the insurance approach as a form of risk management measure?
Explain, in the IS/LM/BP framework with fixed exchange rates, the impact of an autonomous increase in foreign demand for a country’s exports upon the country’s national income, money supply, and balance of payments. If there is no impact on a variabl..
Suppose the restaurant’s cost function for shrimp balls is C(Q) = 2500 + Q + Q2, and the marginal cost curve is therefore MC(Q) = 1 + 2Q. What is the variable cost function? What is the average variable cost function? What is the average cost functio..
Describe ways you see utilizing families in the learning environment. What benefits and challenges come with family volunteers?
Suppose that over the past 50 years, the nominal and real deficit of a country grew from $100 billion to $200 billion. Suppose that, over the same time, real GDP grew from $100 billion to $300 billion. Using __________, we can give an accurate pictur..
Scholars have argued that Confucian ideology limited economic growth, while more recently, this same ideology has been used to explain the rapid economic growth of the region. Think about these two contrasting arguments. How can they be reconciled? W..
Describe the current global economic conditions and their effect on local macroeconomic indicators for your good or service - Describe the local economy's stage in the business cycle.
Suppose that business buy a total of $120 billion of the four resources (labor, land, capital, and entrepreneurial ability) from households. how much in revenues do businesses receive in the product market?
The student calculated the Z-test statistic based on a sample and found it was -2.25. What is the p-value for this test
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