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Imagine that there is a market for sandwiches in equilibrium. In this equilibrium, the equilibrium price is $2 and the equilibrium quantity is 50. When the government places a $0.50 tax on each sandwich, the number of sandwiches sold decreases to 40. How much government revenue is raised by this tax?
Discuss the key aspects of the Snider case, in particular, the effect the decision had on the IDIA, and post-Snider amendments to IDIA. Describe Canada's version of America's '*New Deal," noting in particular the NIRA, the situation in Canada under t..
Week 3 will help students develop an understanding of what money is, what forms money takes, how the banking system helps create money, and how the Federal Reserve controls the quantity of money. Students will learn how the quantity of money affec..
How does a firm’s production function help us understand the impact of capital deepening? Which types of industries experience the greatest (least) productivity growth from capital deepening?
Net foreign direct investment has been a (significant) positive number for the US since the mid 1980s. That represents more investment flowing into the US than out. Given that, one would normally conclude that the flow of net interest payments would ..
If a $5 million lottery pays $3 million in cash, or offers $5 million in annual installments
Indicate what components of GDP (if any) each of the following transactions would affect. Check all that apply.
There are two countries, Mexico and Chile, and two goods, copper and oil. Copper requires copper mines as a specific factor while oil requires oil reserves as a
Given the following diagrams: Q1 = 16 bags. Q2 = 11 bags. Q3 = 23 bags. The market equilibrium price is $37 per bag. The price at point a is $85 per bag. The price at point c is $5 per bag. The price at point d is $52 per bag. The price at point e is..
Using an AD, SRAS, and LRAS curve, explain the effect of the following events on the aggregate-output, unemployment and price level both in the short-run
To analyze the effects of discrimination in labor markets, use supply and demand curves for labor, with the demand curves representing the value of the marginal product. Acme and United are two identical firms. Acme refuses to hire blacks, while Unit..
If your risk of losing your house to catastrophe is 25%, how much would fair insurance cost if your home were worth $1,000,000?
What course of action will benefit the company in the long-term - eliminating all perks, retaining all perks, or eliminating some perks while keeping others?
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