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Surpose you find $20. if you chose to use the $20 to go to a footfall match, your opportunity cost of going to the game is (a) nothing. because you found the money (b) $20 ( because you could have used the $20 to buy others things) plus the value of your time spent at the game (c) $20 (because you could have used the $20 to buy other things). (d) $20 (because you could have used the $20 to buy other things) plus the value of your time spent at the game, plus the cost of the dinner you purchased at the game
where LS is the quantity of low-skilled labor (in millions of persons employed each year), and w is the wage rate (in dollars per hour). The demand for labor is given by
How would income distribution and resource use change if a flat rate tax on comprehensive income were substituted for current progressive income tax in United States?
Governments routinely alter their spending patterns to impact the economy, particularly as they relate to GDP growth and unemployment levels. Explain what effect an expansionary fiscal policy would have on the price level and real GDP starting fro..
Write down a paragraph explaining how the Hernandez Corp. finds the least cost combination of inputs for producing the given rate of output.
Joanne has decided to buy the Hummer and set up a commuter service between Boston and Lowell. There are 1000 people who will pay $400 a year for the commuter service; $280 from each person goes for gas, maintenance, insurance, depreciation etc.
The government levies an excise tax of five cents per unit sold on sellers in a competitive industry. Supply and demand curves have some elasticity with respect to value.
What does the cost of a good or service reflect? Will producer continue to supply a good or service if consumers are unwilling to pay a price sufficient to cover the cost?
The following figures are based on budget estimates of Government of India for the year 2001 – 2002
An increaseing governemtn expenditure in increasing GDP when it is financed by rasing taxes or slling government bonds to the general public or else.
General Electric (GE) is the company we selected. Explanation of the relevance to the firm, A strategy of how the firm will respond , A goal to maximize revenues for the years ahead 45
In 1999, India did not have shopping malls. It now has more than 100 malls. explains this rapid development.
Suppose the government imposes a price floor of $25, and agrees to purchases any and all units consumers do not buy at the floor price of $25 per unit (3 points) a. Determine the cost to the government of buying firms' unsold units. b. Compute the ..
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