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Assignment 2
Task
Assignment 2 consists of two problem questions (worth 15 marks each) based on text material. Text material which may be relevant to the questions may be drawn from any of text chapters 1-10.
Answer the following:
Question 1
Assume the government wishes to reduce alcohol consumption by considering a higher excise tax on alcohol products. Collect information on estimates for the price elasticity of demand for alcohol products. Based on these elasticity estimates illustrate using a demand/supply diagram(s) who bears the burden of the higher excise tax, consumers or producers.
As an alternative for reducing alcohol consumption assume the government is also considering the imposition of a minimum price on alcohol products. Using a demand/supply diagram illustrate the consequences of imposing a minimum price on alcohol for the consumption of alcohol products.
Provide comment on the relative merits of increasing excise taxes compared to imposing a minimum price on alcohol products for reducing alcohol consumption.
How does the co-insurance policy affect the quantity of doctor visits consumed? Calculate the deadweight loss associated with the existence of insurance.
Price elasticity of demand for stock is 1.5. This means that foe every 10% increase in stock prices, the quantity demanded will decline by 15 %. Does this make sense? Explain.
Produce a graph showing the spread of interest rates on corporate bonds relative to interest rates on government bonds in the United States. Describe the cyclicalproperties of the series. Carefully document the data sources you use.
Analyze the significant rules concerning the manner in which corporations treat the dividends that they are paying. Support your recommendation with examples of such changes.
Use the PW method at 8% per year to select up to 3 projects from the 4 available ones if no more than $20,000 can be invested. Estimated lives and annual net cash flows vary.
If you sell it in May, you will only get $100. If you keep it, you'll have to pay $25 to move it to the city of your new job (where you interned last summer). There is no convenient gym at the new location. What costs and irre..
1. consider a two period model. an agent gains utility from consumption today c1 and in the future c2 according to uc1
Describe and explain why a socialist system might be the best in responding to the needs of people struck by an emergency situation like the earthquake that occurred in Haiti in January 2010.
Which two of the text's possible explanations for increasing wage and salary inequality seem least consistent with the following fact The distribution of earnings has become more unequal within industries (Both goods and service industries) and wi..
Assume a simplified banking system in which all banks are subject to a uniform reserve requirement of 20 percent and checkable deposits are the only from of money. A bank that received a new checkable deposit of $10,000 would be able to extend new..
Why do business departments have more money than other aepartments What economic measures can be taken to relieve the differences in salaries
if demand is represented by qd 50 -.5p .005i where i is income and i50000 and supply is represented by qs 100 .4p -
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