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Some economists and policymakers have argued in favor of a "flat tax." A flat tax would replace the current individual income tax system, with its many tax brackets, exemptions, and deductions, with a new system containing a single tax rate and few, or perhaps no, deductions and exemptions. Suppose a political candidate hired you to develop two arguments in favor of a flat tax. What two arguments would you advance? Alternatively, if you were hired to develop two arguments against a flat tax, what two arguments would you advance?
Assume a decrease in consumers' incomes causes a decrease in the demand for chicken and an increase in the demand for potatoes. Which good is inferior and which is normal? Explain your reasons.
There are two types of customers in a market for sheet metal. Let P represent the market price. Describe the market demand curve algebraically. In other words, show how the quantity demanded in the market Q depends on P.
Develop the depreciation and book value schedules using the GDS MACRS method for oil and gas drilling equipment that cost $1.2 million. A salvage value of $300,000 is estimated.
Begin by explaining fiscal policy.
Describe the effect of government interventions in markets and incentive policies on economic behavior. eco/365
A firm with the production function Q(K,L)=2 (K^(1/2))(L^(1/2))
Normal 0 false false false EN-US X-NONE X-NONE To generate leads for new b..
It currently costs 500 dollars to install a new shower in your house. A new law requires each new shower to come with digital hot and cold water controls instead of old fashioned knobs that everyone uses today, installing the digital control costs th..
A customer quit her job and now runs her own business. Her business an accounting profit of $33,700 and an opportunity cost of $36,700. There is an economic loss of -$3,000. Factoring ceteris paribus what economic advice would you give her
define the four basic types of trade barriers. who gains and who loses from a protective tariff? explain. explain the
discuss your most recent decision to purchase a major item entertainment center automobile home etc.. in what way did
Being a rational consumer, at August prices Tony purchased 25 nuts. How many berries did he consume in August? What was the marginal rate of substitution at the optimal consumption bundle
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