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Economics

1.What does Deaton mean by the "original escape from mortality?" what groups showed this escape first and what technological/ societal changes led to this escape?

2.What is the significance of a multiplier being greater than one?

3.Suppose the wage is 50 per hour and that the consumer has 100 hours H to work with. Suppose that the MRS is given by(H-l)^0.5/c.

What will the consumer's choices of c and l be? Repeat with an upper bound of 10 hours. Repeat the first part with a ten percent flat tax on labor income. Suppose that the tax rate has two brackets so that income from hours above1/2H is taxed at 20 percent. How does the solution change?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91579150

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