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Q1. A Fenway park, home of the Boston Red Sox, seating is limited to 39.000. Hence, the number of tickets issued is fixed at that figure. Seeing a golden opportunity to raise revenue, the City of Boston levies a per ticket tax of $5 to be paid by the ticket buyer. Boston sports fans, a famously civic-minded lot, dutifully send in the $5 per ticket. Draw a well-labeled graph showing the impact of the tax. On whom does the tax burden fall-the team's owners, the fans, or both? Why?
Q2. In the text we assumed that the condominium purchasers came from the inner-ring people-people who were already renting apartments. What would happen to the price of inner-ring apartments if all of the condominium purchasers were outer-ring people-the people who were not currently renting apartments in the inner ring?
What if the pollution invades Baker's home and harms her health
What steps can a government take to ensure that sustainable development is always considered in assessing which major economic projects or investment proposals to accept.
The United States is experiencing a recession and Congress decides to adopt an expansionary fiscal policy to stimulate the economy.
Explain how the short-run Phillips curve, the long-run Phillips curve, the short-run aggregate supply curve, the long-run aggregate supply curve, and the natural rate hypothesis are all related.
The banking system is a fractional reserve banking system with a desired reserve deposit ratio. Banking system is a fractional reserve banking system.
Mustard and mayonnaise are substitutes. Mustard and relish are complements. Mustard is a normal good. During the summer, about 50% of all mustard was recalled by manufacturers and removed from store shelves.
If one draws MC curves pre and post innovation as well as the Marginal Revenue line for a monopoly and the MR in a competitive situation.
Refer to the Real Estate data, which reports information of homes sold in the Goodyear, Arizona, area during the last year. Prepare a report on the selling prices of the homes.
Suppose the interest rate on 6-month treasury bills is 7 percent per year in the United Kingdom and 4 percent per year in the United States.
Compare the effects of these two policies in terms of their implications for the current account.
Results of drilling are 15 dry holes, 12 gas producers, 18 oil wells, and 20 wells producing both oil and gas.
If planned aggregate expenditure (PAE) in an economy equals 2,000 + 0.48Y and potential output (Y*) equals 4,000, then this economy.
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