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Describe how the choices made between governments’ spending of taxpayer money or taxpayers spending that money themselves, affect the allocation of society’s resources. Give reasons.
Microeconomics, Economics
Question: 1. Suppose that the utility possibility frontier for two individuals is given by U A + 2U B = 200. a- Draw the utility frontier b- If the social welfare function is of the Nietzschean type, W =max{U A , U B } ...
Question: Draw demand and supply curve for labor. Identify the efficiency wage. Then show graphically how efficiency wage contributes to the structural unemployment The response must be typed, single spaced, must be in t ...
Question: In some industries, merger agreements stipulate that a high-ranking executive of one company will be president or chairman of the board of the merged company for a certain period of time, say four years, after ...
Question: Using Exercise, sketch the effects in parts (a) and (b) on a single supply and demand diagram. What prediction would you make about how the improved information alters the equilibrium quantity and price? Exerci ...
Questions 1 Use graphs to explain the following concepts: 1.1 Ben allocates his lunch budget between two goods, pizza and burritos. Illustrate Ben's optimal bundle on a graph with pizza on the horizontal axis. Suppose no ...
Question: As an alternative to uniform pricing a monopolist may engage in price discrimination. There are three general forms. Describe each form of price discrimination and provide a real-world example of each. The resp ...
Question: In 1999 Brazil was forced to devalue the real by almost 50%, and in 2002 Argentina was forced to devalue the peso by almost 50%. According to the static model, that would boost net exports and raise GDP. Howeve ...
Question: Explain Milton Friedman's "Natural Rate" Hypothesis. What important policy conclusion can we derive from the hypothesis? include any necessary graphs or models. The response must be typed, single spaced, must b ...
Question: Psychologist, Beverly Daniel Tatum summarizes the impact of institutionalized racial policies like FHA loan practices: "To the child of that parent, it looks like, ‘My father worked hard, bought a house, passed ...
Question: Using the Specific Factors Model (i.e. Labor is mobile but Land and Capital are specific to agriculture and manufacturing) what would be the effect of foreign labor immigration on wage rate and the output of bo ...
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