Reference no: EM131112440
1.What do so many politicians and journalist tell us that fair means?
2.After fifty year of poverty fair programs in the US what are the results?
3.What was an early definition of social justice?
4.What is the current definition of social justice?
5.What are the many ways the US Federal Government taxes us?
6.What is our government’s only source of revenues, no matter how our politicians word it?
7.What proportion of income taxes in the US is paid by the top 50%, 10%, and 1% of income earners?
8.Why are payroll taxes regressive?
9.It is true that nearly half the household in the US pay no income tax at all?
10.Do the poor actually lose various welfare benefits if they are trying to climb out of welfare and their income increases?
11.Who actually pays corporate income taxes?
12.What is the definition of Economics?
13.Is there any form of government or economic system that can prevent a country from facing scarce resources?
14.How are resource allocation decisions made in a centrally planned economy and in a free market system?
15.Is political self-interest somehow better than economic self-interest?
16.Is it possible for a small group of people in Washington D.C. to know the massive amounts of information required to get the right amount of milk on the shelves of the local grocery stores?
17.What does voluntary exchange driven by self-interest require that each party to the exchange do?
18.What is the purpose of prices in a free market system?
19.What is crony capitalism and why is it detrimental?
20.Why is issue emotionalism a shaky foundation upon which to make policy decisions?
21.We do not need to care what the stated intentions of politicians are regarding their proposed regulations. Instead what should our concerns focus upon?
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Would the firm gain or lose money by raising the price
: Consider a good, called an ynoxinul, with a price elasticity of demand of -4. Suppose that there is a monopoly which controls the sale of ynoxinuls. Would the firm gain or lose money by raising the price? Suppose that the government want to tax ynoxi..
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Affect the purchasing decisions of competitive firms
: Suppose that a new technique for harvesting lumber more efficiently was discovered. Illustrate the effect you think this would have on the market for lumber. How will the price and quantity sold of lumber move? How would this affect the purchasing de..
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Monopolist-oligopolist-monopolistic competitor
: Consider Hastur, an author promoting her new book, The King in Yellow. Will Hastur compete as a monopolist, an oligopolist, or a monopolistic competitor? Why? Given your answer to (i), would you expect Hastur to sell her book at, below, or above marg..
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Compare to the outcomes of competitive market
: Two firms, Antaeus and Benina dominate the market for toaster ovens. They compete Cournot. How do the prices, profits, and quantities of Antaeus and Benina compare to the outcomes of a competitive market? How does Cournot competition generate these r..
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What was an early definition of social justice
: What do so many politicians and journalist tell us that fair means? After fifty year of poverty fair programs in the US what are the results? What was an early definition of social justice? What is the current definition of social justice? What are t..
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Possibility frontier exhibiting increasing opportunity costs
: Cattletown steakhouse is a restaurant known for its steak meal and hamburger basket. Draw a graph showing a production possibility frontier exhibiting increasing opportunity costs.
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Oes uncovered interest parity hold
: The current exchange rate is $2/£. The annual interest rate on 60-day US- dollar denominated bonds is 5% and the annual interest rate on 60-day pound denominated bonds is 11%. Investors currently expect the exchange rate to be $1.98/£ in 60 days. Doe..
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Efficient production technology for making vitamin pills
: Assume that the most efficient production technology available for making vitamin pills has the cost structure given in the following table. Note that output is measured as the number of bottles of vitamins produced per day and that costs include a n..
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What impact would deflation have on inserts rate
: During 2003, we began to stop worrying that inflation was a problem. Instead , we began to worry about deflation, a decline in the price level. Assume that the central bank ( federal reserve ) decided to hold the money supply constant. What impact wo..
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