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1. How is it possible for some people to pay negative taxes?
2. Why is it important to distinguish between deficits and debt?
3. Why may a budget surplus be considered undesirable?
Illustrate what is the purpose of macroeconomic models. Explain how a model of ice cream production can be used to explicate 50-fold income differences across countries.
Consider the following data extracted from an after-tax cash flow calculation.
Assume there is a duopoly with the following demand equations Q1=30-P1+P2 and Q2=30-P2+P1. Marginal cost are given as MC1=6, MC2=0. Calculate the Bertrand solution. What are the reaction curves?
q1. the long heel press produces memo pads in its local shop. the corporation can lease its paraphernalia and hire
Characteristics of the left include all but one of the following: The right exhibits all but one of the following:
Show your budget constraint and your optimum point. Do you now work more or less than 10 hours? Does the government collect more or less revenue than before?
Consider two neighbouring island countries called Bertland and Ernamia. They each have 4 million labor hours available per week that they can use to produce wheat, clothing, or a combination of both. The table below shows the amount of wheat or cloth..
If demand of a commodity increases with income,
Ingrid took a university teaching job as an assistant professor in 1974 at a salary of $10,000. Illustrate what is Ingrid's 2003 salary in 1974 dollars.
What is the function, as well as what are the main ingredients as well as connections within the policy planning network doing off describes.
Consider a firm for which production depends on two normal inputs, labor and capital, that are not perfect complements. Initially the firm faces market prices of w = 10 and r = 8, for labor and capital. In which direction will the substitution effect..
Problem 1: In a population µy = 100 and σ2y = 43. Use the central limit theorem to answer the following question:
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