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What is Laffer curve
The Laffer curve is named after Professor Art Laffer who suggested that as taxes enhanced from fairly low levels, tax revenue received by the government would also enhance. Though, there would come a point as tax rates where people would not regard it as worth working so hard. This lack of incentives would lead to a fall in income and thus a fall in tax revenue.
Use a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labor:(a) an increase in immigration (b) more women en
Negative profit FC + VC > R(q) MR > MC Indicates higher profit at the higher output - Question: Why is profit negative when the output is zero? - Outp
demand elasticity
Q. Explain Labour Intensity? Labour Intensity: Ratio of labour effort expended, compared to total on-the-job compensated labour time. A higher ratio of labour intensity reflect
What is opportunity cost? Answer: Opportunity cost is a term used in economics, to mean the cost of something in terms of an opportunity foregone (and the advantages that co
HOW DO YOU ADJUST FISCAL POLICY FOR INTERNAL BALANCE
Problem: "Mauritius offers an interesting case study of successful trade liberalization and export-led development in Sub-Saharan Africa. This is a notable achievement given t
write down the assumotions and importance of game theory
Price System: Demand is the quantity of a commodity that consumers are willing and are able to buy at a given price at a given time period when all other things remain the sam
hoe does the knowledge of price elasticity of demand important to the government
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