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Discussion 1: Even without a minimum wage, the unemployment rate would almost surely be higher among teenagers than among adults. What aspects of economic theory would lead to this outcome?
Discussion 2: Consider two situations. In one you find yourself in the 90% income tax bracket and in another you are in the 10% income tax bracket. Would your incentive to find loopholes to reduce your tax liabilities be the same or different in these two situations given that your income is the same in both cases? Explain your answer. Does this have anything to do with the Laffer Curve?
Discussion 3: In most cities in the world, it is necessary to purchase an expensive license - called a medallion that have fixed number in supply - to operate a taxi. These medallions allow you to do your business and if you wish you can sell them and leave the taxi business. Would you expect the resale price of those medallions to rise of fall in the future? Why?
Discussion 4: Suppose there is a decline in the marginal costs for one member of a cartel. What impact will this have on the incentive of that firm to cheat on the cartel agreement? What impact will it have for the stability of that cartel? Explain
G = Go; I = f (i...) but investment is NOT a function of income; X = Xo; with import function of M = Mo + mY. Assume a money demand function Md=Mt+Ml, with Mt=f(y) and Ml=f(i), and Ms=Mso. Now assume a significant increase in the public's liquid..
Discuss how you would manage the revenue cycle and/or budget in a the recovery room of the hospital.
Write a Python program that defines a value-returning function named cuber that returns both the surface area and volume of a cube. A cube is a rectangular prism with all sides equal.
Suppose that the real interest rate in an economy is 6%. Real GDP grows by 2.75% a year. The new chief economic adviser to the government argues that a tax increase of $20 billion will generate huge bene?ts because the real interest rate is much l..
How much is the choice worth today?
Predict the trend for inflation over the next five years and explain your reasoning. What is deflation? Who are the winners and losers when it occurs?
An economic bad is something you don't want to consume, i.e. less bad is better. Define an economic bad mathematically and name one economic bad in reality. Suppose you had to consume a certain amount of a given economic bad but could pay to get r..
Distinguish between explicit and implicit costs, giving examples of each. What are the explicit and implicit costs of attending college Why does the economist classify normal profit as a cost Is economic profit a cost of production
Assume you decide to open a copy store. You rent store space, and you take out a loan at a local bank and use the money to buy 10 copiers.
You are paying a series of five constant-dollar (or real-dollar) uniform payments of $1195.38 beginning at the end of first year. Assume that the general inflation rate is 13.24% and the market interest rate is 13.24% during this inflationary peri..
The economy is in recession: real GDP is $5 billion. Real GDP is $1 billion short of the natural level of GDP. The government wants to move the economy
Assume investment spending increases by 10 billion AED. Calculate the first through the five rounds of spending in the economy.
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