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In the last few years, the Federal government cut the GST (the federal sales tax on goods and services which Ontario later blended into the PST to create the HST) by two percentage points. The federal government could have transferred this cut to income taxes instead, i.e. it could have decreased taxes on income instead of on the GST. Sources of income that taxes are paid on include labour (work) as well as investment earnings. Assuming that taxes are to be cut, which tax cut do you believe is more beneficial for long run economic growth, a GST/HST reduction or an income tax reduction? Assume that either of the reductions would be revenue neutral, i.e., the federal government would forfeit the same amount of revenue with either tax that is cut. You are to back up your argument with sound economic reasoning and concepts that you have learned in this course. You are quite welcome and encouraged to utilize outside sources. Please be sure to reference your sources. Your assignment should be about 500 - 750 words in length. Feel free to use graphs in your paper.
Over the past several years, the predictions of the Philips Curve haven’t exactly panned out. Now, with the expectation of meaningful expansionary fiscal policy on our horizon, and starting from near full employment, the predictions of the Philips Cu..
Whether the U.S. Congress press a tariff raising the cost of Japanese compute. Illustrate what are four mutually exclusive states of the world that you should be concerned about
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Construction contractors are the buyers of Portland cement, a key ingredient in concrete. Neither construction contractors nor their customers use much coal. Portland cement is produced in large coal-fired kilns, so Portland cement producers use a la..
Assume a bank faces a required reserve ratio of 5 percent. If a bank has $200 million of checkable deposits and $15 million of total reserves, then how large are the bank's excess reserves?
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A unit circle representing the dimension of ”mouth feel” in breakfast cereals has 200 con- sumers spread uniformly along it. All consumers buy either one package of cereal a week or none at all (in which case they eat bread) and incur disutility c = ..
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