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1. The table on federal income tax rates facing various income groups suggests that the marginal tax rate in the United States has fallen. What would be your prediction as to how this decline in marginal tax rates could affect the quantity of Labor supplied in the United States.

2. Suppose the quality of elementary education is a public good. How might we infer the demand for elementary school quality from residential property values?

3. How could the program that redistributes income from rich to poor be considered a public good?

4. Sugar prices in the United States are several times higher than the WORLD PRICE of Sugar. This disparity results from a FEDERAL government program that keeps enough foreign produced sugar out of the United States to hold US sugar prices at a high level. The program raises the price of all sweetened foods produced in the US; it boosts food costs for the average household by more than $100 per week. Who benefits from this program? Why do you suppose it exists?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91704960

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