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1. If government increases the excise tax on tires and the tax is added to the price, describe in detail how we can determine the incidence of the tax between the consumer and the seller.
2. What are the three sources of funding for the public sector? Can the government rely on all of these sources in the long run? Explain.
3. What are externalities? Describe how government corrects for positive and negative externalities.
4. Define the business cycle. Explain what is happening to spending, output and income, employment and prices in each phase.
5. Define Capitalism and identify and explain the characteristics of a capitalist system.
6. What is meant by full employment? Discuss the four types of unemployment?
7. Explain how agricultural price supports work and what the effects of the supports are.
Involuntary unemployment at this wage. If so, how much. Illustrate with a diagram. What if minimum wage is set at 40,000.
Average your results, and compare them with those in Table 11-2. Are there any consistent differences in the answers from your friends and those in Table 11-2?
What strategies would you employ to improve the usefulness of business meetings? Incorporate two or more of the strategic considerations for meetings outlined in Chapter 13 of your textbook in your response.
Your local newspaper charges $1.50 per line for your ad about a garage sale this Saturday. The reason for the garage sale is that you are cleaning out your house to put it up for sale. When you place the ad with the same newspaper to sell your home, ..
The Alliance pays the Blue Hands men to seize the crew of Serenity. They pay $126,000 to have six crew members seized or killed. Each arrest costs twice as much as the previous one. What is the marginal cost of the fifth arrest?
Your grandfather has offered you a choice of one of the three following alternatives: $5,000 now; $1000 a year for eight years; or $12,000 at the end of eight years. Assuming you could earn 11 percent annually, which alternative should you choose? If..
Firms A and B are the only firms in the market for widgets. Each firm can choose between cooperating and fighting. If both firms choose to cooperate, each gets a profit of 10. If both firms choose to fight, each gets a profit of 5. Suppose firms choo..
What is the Herfindahl-Hirschman Index (HHI) for an industry in which five firms each control 20% of the market? a. 20; b. 100; c. 2,000; d. 5,000 33. Which of the following pieces of antitrust legislation banned tying contracts, limited mergers, and..
Write JavaScript statements to accomplish each of the following tasks: Display the value of the seventh element of array f.
Contributed by Hamed Kashani, Saeid Sadri, and Baabak Ashuri, Georgia Institute of Technology
Utility is a satisfaction that an individual derives from consuming or using a specific good or service. Total utility indicates the total amount of satisfaction or pleasure an individual derives from consuming some specific quantity of a good or ser..
What is the value of the economic's MPC. Data applies to an economy with only two sectors-households and firms no government or export.
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