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According to the U.S. Department of the Treasury, people in the top income quintile (20%) pay roughly 70% of all federal income taxes, with the remaining 80% paying less than 30%. Further, the bottom half of the population pays less than 10% of all taxes. Many politicians assert that they want to bring tax relief (presumably with the idea of redistributing income) to the "middle and lower income" families. Given this distribution of income tax payments, would you support this type of policy? Why or why not?
Homogamy, a term sociologists use to mean the tendency to choose romantic partners based on similarities in background and group membership, is very common. Why?
Explain how income distribution is measured and discuss its effects. How income distribution is measured using a Gini coefficient? Is a less equal distribution of income good or bad for a country’s economic growth?
Janice really likes potatoes. At best any other goods are worth less than a dollar to her, potatoes cost $0.50 per pound, and she has $5.00 that she could possibly spend ob potatoes or other items. Suppose she feels that the first pound of potatoes i..
John spends $I on bottled water which he can buy in two sizes: 0.75 liter and 2 liter. The water is identical in the two sizes and John gets no utility from the containers themselves, only from the water. Write down a utility function for John in ter..
Please identify and discuss advantages and disadvantages of structuring a business as a partnership versus a corporation. How have state LLC laws changed the effectiveness of a partnership from both a legal and taxation point of view?
Write down the different costs associated with putting on an NFL game. Classify these costs as either fixed costs or variable costs. Assume that a single playing season constitutes the short run.
Over the past year the Texas Legislature along with others around the country have sought to change history books to downplay the negative aspects and promote the positive aspects of American History. Should college history classes be "washed" of the..
Each student will create a detailed, organized, unified technical solution given the scenario described below. The submission will be in a written format, with at least one diagram, and may include additional diagrams, charts or tables. The assign..
Consider the utility function U=(x-θ)^α (y-ρ)^(1-α). (a) Provide an intuitive explanation for this kind of preferences; that is, what roles do θ and ρ play? (b) Solve for the optimal combination of x and y. (c) Solve for the indirect utility function..
Use the AS-AD model to graph the following issues with economic growth and instability:
Answer this question on the basis of the above demand and cost data for a specific firm. Refer to the above data. If columns 1 and 3 are this firm's demand schedule, the profit-maximizing level of output will be:
Microsoft emerges to have a monopoly with over 90% of the personal Calculator operating market. Why then would it not be charging a monopoly cost.
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