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Q1. State two economic principles of taxation and which principle best justifies the excise tax on gasoline, when the tax revenue is used to maintain or improve the roads? Which principle best justifies the progressive U.S. taxation profits of corporate? Clarify.
Q2. 1) "Unemployment is more important problem than price increases". This kind of statement is normative or positive?2) You are given a choice between two movie passes, dinner at a Red Lobster and a new book. What is your opportunity cost? Explain.
Show how the transaction would have been recorded in the German balance of payments accounts. What was the net effect on the German balance of payments.
If it had doubled its land as well as labor, production would have been 325000 bushels. Does it have increasing, decreasing or constant returns to scale.
Explain why the R-squared from the regression from F test will always be at least as large as the R-square from the BP regression.
Ronnie operates a lawn-care service. On each day, the cost of mowing the first lawn is $10, the cost of mowing the second Lawn is $12, and the cost of mowing the third lawn is $15.
This document contains various important questions and their appropriate answers in the subject field of Economics.
A physician's office expenses increase 10 percent so she decides to raise the price of office visits by that much. Assuming the demand curve for office visits does not shift, what will happen to the total number of office visits and practice reven..
Afterward on same day Jane Harris discussed a loan for $5400 at same bank. Exemplify after these transactions, the supply of money.
The election of a new Congress causes consumer confidence to soar as expectations of future economic growth are solid.
One day you realize you're tired of smelling like refried beans all the time and begin thinking about starting your own business. After doing some investigation you decide to spend 15 hours per week running a photocopy service in your dorm.
A pharmaceutical firm faces monthly demands in the U.S. and Mexican markets for one of its patented drugs.
Suppose that Missing Link must pay a tax equal to 40% of its gross revenue. What is the optimal number of machines for the company.
The Coca-Cola Company has 40% of the cola market. Determine the probability that a sample proportion
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