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Suppose that someone proposes a gasoline tax of $2 per litre to help pay for publicly provided automobile insurance. The graph below shows the demand and supply curves of the market for gasoline as well as the wedge that the tax creates. Use the graph to answer the following questions.
Explain how much is the total tax revenue?
increases the equilibrium GDP also the size of that increase varies directly with the size of the MPC
Elucidate what does this imply about the use of monetary and fiscal policy over the business cycle.
Elucidate why is presidential power "conditional"-that is, why it affected so substantially by circumstance, the makeup of Congress, and popular support.
What is each fisherman's profit-maximizing output now. Find the market price and the total output.
The opportunity cost of Juan's time is $8 per hour. If Juan receives $2 per pound for his fish, what is the optimal number of hours he should spend fishing.
Explicate 2 important indicators the Federal Reserve System will use to analyze this particular economic situation.
Jefferson Smurfit Company is a multibillion-dollar supplier of packaging materials. The tradesperson's action is typical of the corporation's trades philosophy
Using the utility maximization rule as your point of reference elucidate the income also substitution effects of an increase in the price of a product with no change in the other product.
You arranged the subsequent information to use in evaluating the financial feasibility of starting your own agency.
Using the following table, compute the 95% confidence intervals for the expected annual return of the four different investments.
Illustrate what do you think would occur when there is little or no competition is a marketplace
Compute the monthly payment and explain whether taking this loan is a smart business decision.
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