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Suppose that the pre-tax price of cigarettes is $3.00 per pack and the post-tax price of cigarettes is $4.00 per pack. The tax is $1.50 per pack and is paid by the retailers of cigarettes to the government. Six hundred packs were sold prior to the tax increase and 500 packs were sold after the tax. What is the consumer tax burden?
An increase in buyers' incomes
Though your answer needs to be correct in terms of economic theory (so be sure to read the assigned chapters), creativity and having fun with it is strongly encouraged.
Elucidate in which country is an expansionary monetary policy likely to have a larger effect on aggregate output. Explain your answer using aggregate supply and aggregate demand curves.
what changes should they make in government spending or taxes ? what changes should they make if they decide a contractionary fiscal policy is necessary?
Calculate the equilibrium level of income or real GDP for this economy. b. What happens to equilibrium Y if I changes to 10? What does this outcome reveal about the size of the multiplier?
Suppose that a calculator company operates in a perfectly competitive marketplace producing 5,000 Calculators every day.
Are you for or against free trade? Are you for or against NAFTA? What is the economic basis for trade? Explain the underlying facts that support free trade and give an example of a good that you purchased recently that is based on resource difference..
During the first 13 weeks of the t.v season the Saturday evening 8;00pm-9:00pm audience proportions were recorded as ABC 29% CBS 28% NBC 25% and independents 18%. a sample of 300 homes two weeks after Saturday night schedule revision yielded the foll..
Think about a product that you have purchased recently (e.g. soda, diapers, takeout meals, milk, shoes, manicure/pedicure, video game, etc.). Explain how the law of demand affected your purchase. Give specific examples of how the determinants of dema..
Elucidate how formal organizations have evolved over the past century. What differences were there in organizations a century ago, compared to today's organizations.
Quantity, whole revenue and profit when company charges different price in each market and exploits its total profit.
Sarah is awake for 100 hours per week. Using one diagram, show Sarah's budget constraints if she earns $6 per hour, $8 per hour, and $10 per hour. Now draw indifference curves such that Sarah's labor supply curve is upward sloping when the wage is be..
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