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Question about Fiscal Federalism
The central economic problem of fiscal federalism is:
a. the division of taxing and expenditure functions among different levels government.
b. the choice of the collective choice rule for central governments only.
c. the level of public goods to be provided by a central government only.
d.how to achieve an equitable distribution of income.
If increased government spending and tax cuts were equally effective in stimulating aggregate demand, which fiscal tool would you select? Why?
Draw a graph of the UK labour market that shows the demand for labour, the supply of labour, and the real wage rate in 1973 and 2003. Draw a graph of the UK production function in 1973 and 2003. Make sure your graph shows potential GDP in both year..
Illustrate each of the following events using a demand and supply diagram for bananas.
Suppose that all other banks hold only the required amount of reserves. If Nan Bank Inc. decides to reduce its reserves to only the required amount, by how much would the economy's money supply increase?
Which of the following items are included in the calculation of GNP in the UK, and which are excluded?
According to the neo-classical economic theory, the market is a natural, self-regulating system that tends automatically towards the full employment equilibrium of supply and demand.
Use a production possibility frontier to illustrate the probable results of your fiscal policy. By how much did consumption change? By how much did savings change?
The owner of the Los Angeles Dodgers has commissioned a study that showed the demand by fans for stadium seats (per playing date) to be P = 22 - 0.2Q-How much revenue does the owner make at the current price?
Calculate the equilibrium real wage rate and the equilibrium quantity of labor. Suppose that the nominal wage rate equals 60. In the short-run, aggregate demand and aggregate supply are equal at a price level of 1.0. Compute the real wage rate.
The average weekly earnings of bus drivers in a city are $950 with a standard deviation of $45. Assume that we select a random sample of 81 bus drivers.
The presentation should introduce and analyze an interesting environmental regulation proposal, a firm's unique environmental strategy
Is the compensation scheme at your present place of employment consistent with a reasonable solution to the agent principal problem?
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