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1) What are efficiency, producer surplus, worker surplus, and total gains from trade?
2) Why would we expect regional wage levels to converge? What happens to total gains from trade as regional wages converge?
3) How do payroll taxes affect labor markets (i.e., equilibrium employment, wage paid by employer, wage received by worker, producer surplus, worker surplus, total gains from trade, incidence of tax)?
4) Does the incident of tax (who ultimately pays the tax) depend on who the tax is imposed on? Explain.
5) In what situations would we expect workers to pay most of the payroll tax? Explain using the concept of elasticity.
Consider that, in this case, we 1st add (marginal) costs, not quantities, since these are the costs associated with each t-shirt.
Lasso Capital has been experiencing increasing demand from its institutional clients for information and assistance related to international investment management. Identify and briefly discuss three reasons for adding international securities to the ..
Grapes must be harvested by hand. This production function is characterized by fixed proportions - each worker must have one pair of stem clippers to produce any output. Suppose a vinyard owner currently has 20 clippers. If the owner wishes to utiliz..
Suppose that a chicken farm uses a nearby stream to dispose of the wastes released by its chickens. These wastes flow downstream into a lake that has become thick with algae and polluted due to the minerals in the waste matter. types of private solut..
After the first course in biology or chemistry, many decide to major in something other that the natural sciences. which of the 12 principles is at work here?
for each of the following describe some of the potential opportunity costsa. studying for your economics testb.
Whose interests should be the paramount concern of government trade policy - the interests of producers (businesses and their employees) or those of consumers? Given the arguments relating to the new trade theory and strategic trade policy, what kind..
One policy originating in this period sought to break up tribes by removing children from their families and enrolling them in Government-run boarding schools far from home.
Illustrate what is the basic objective of monetary policy. What are the major strengths of monetary policy.
A certain machine will have a cost of $25,000 (then $) six years from now. Find the PW of the machine if the real interest rate is 10% per year and the inflation rate is 5% per year using (a) constant-value dollars, and (b) then-current dollars.
What are the principal sources of saving? What is investment? What are the two types of economic investment? What is economic investment?
Starting with the estimated demand function for Chevrolets given in problem suppose the average value of the independent variables
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