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If the government provides every citizen a hula-hoop then it follows that in economic terms:
A. hula hoops are a semi-public good as they are non rival but excludable
B. hula hoops are a semi-public good as they are rival but non-excludable
C. hula hoops are a private good as they are rival and excludable
D. hula hoops are a public good as they are non rival and non excludable
You have a gross income of $12029 in 2014. You filing status is single. You do not itemize deductions and you are allowed 1 exemption. What is your federal tax bill, assuming no phaseout of personal exemptions based on income?
The oil price shock embodied an inflation rise of 3 percentage points and inflation turned out to be 1.5%. What effect did the financial crisis have on the unemployment rate?
How will this affect the firm’s profit maximizing use of coal and output? d) What is the advantage and the disadvantage of placing a tax on the burning of coal to reduce global warming?
Suppose you read in an industry publication that the Rothschild index for the petroleum industry is 0.88. Based on past experience, you know that the price elasticity of demand for the petroleum products sold by your firm is ?1.5.
Illustrate what whould be the appropriate elasticity to compute. Using the midpoint method, compute this elasticity.
Over the past decade, medical costs have increased more rapidly than other prices. In order to illustrate how rising medical costs have affected consumer alternatives, let X represent the quantity of medical services, and let Y represent the quantity..
Assuming that your opportunity cost funds interest rate is 5% which refrigerator would you buy and why.
In the fall of 2002 the Fed voted to decrease the federal funds rate target on several different occasions, reducing it from 3% to 1.75%. What action in the "open market" would the Fed's trader have had to take, other things equal, in order to induce..
What is the definition of absolute price?
A precise statement of the rationale for a business and a step-by-step explanation of how it will achieve its goals is a
What is the cost of regular unleaded fuel in your town? What are some contributing demand and supply factors to the differences in fuel prices around the country?
he or she rents 63 movies per year at the same price per movie. What is the implied income elasticity of demand for movies? Are movies a normal good or an inferior good?
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