Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Consider a nation where the government is very oppressive of its citizens. In particular consider Dawn, a single mother with four kids, who works 3 jobs in addition to raising her children. Dawn's passion in life is reading and knowledge and she can buy 2 goods with her income: books or food. If the price of food is $10 and the price of a book is $5 and her income is $200 a month answer the following questions.
a. Draw Dawn's budget constraint. Place food on the horizontal axis.
b. Assume that Dawn is barely scraping by and spends 70% of her income on food so that she can feed her family. Mark this point on the budget constraint.
c. Finally, after many years of suffering, some reformers push to institute help for the families affected by the cruel government regime. The reformers push through a bill that gives poor families an additional $50 worth of food stamps. Draw the change in the budget constraint for Dawn. What happens to the books and food consumed by Dawn - explain with substitution and income effects.
d. If the reformers' true objective was to increase Dawn's ability to buy books; but giving cash to her is not allowed - is this objective being satisfied by the food stamps? Explain why or why not.
List some private and public solutions to the existence of externalities (negative or positive) in markets and how each solution provides a solution or incurs a cost and to whom.
The federal government employs a budget plan over several fiscal years that results in significant increases in the national debt, with no relief or plans to deal with the problem.
question 1 a suppose the income elasticity of demand for furniture is 3 and the income elasticity for doctors services
Explain how the following two market-based incentives: Pollution fees and Marketable Permits provide a market based solution to Pollution in the U. S. Is this issue growing in importance? Why?
Use the sticky wage theory of aggregate supply to explain what will happen to output and the price level in the long run. What role does expected price level play in the adjustment?
Which variables is/ are statistically significant in explaining variations in the average operating expense ratio - what type of cost-output r/ship is suggested by these statistical results?
Provide a detailed description of the issues that you have researched - Analyze the most significant economic effects of the researched issues on healthcare industry.
What are key concepts of location in terms of business?
riority mail has been one of the most profitable products for the U.S Postal service, between 1995 -1999 and accounting for almost 8% of the Postal Service's mail revenue. Because the Postal Service lost $480 million in the fiscal year ending Sept..
No amount of copying is acceptable (allowance for references, footnotes, and quotes) and your quotes must not be more than 10% of your content - Customs and Border Protection on our Southern Borders with Mexico.
Describe how a firm in a Monopoly market maximizes its profits and minimizes its losses in the short term and in the long term. Can a Monopoly make a profit in the long term?
Flexible exchange rate systems occur when: If the supply curve for dollars shifts to the right relative to the British pound: Which of the following is a likely consequence when the dollar declines in value against other currencies? With a system of ..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd