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List of the various ways the government interacts with the economy

Compile a list of the various ways the government interacts with the economy (refer to material on legal prices,taxes, antitrust and environmental policies). Based on your assessment of the effectiveness of such government interventions in achieving their goals, construct an analysis of the efficiencies and inefficiencies create

Pigouvian Subsidies

Don't understand why pigouvian subsides shift up marginal private cost up, lead reduce the total output of firms? I thought pigouvian subsidies will shift marginal private cost line down... but as my prof said, government intervene externality though pigouvian taxation and subsidies. and both reduce firms output. and the resu

If the price of a good rises, then producer surplus

Please check this for me. If the price of a good rises, then producer surplus a. will increase b. will decrease c. will remain the same d. may change but we can't tell how it is a If there is an increase in demand, total surplus a. will increase b. will decrease c. will remain the same d. may change but we can'

Multiple choice question

Could someone please help with the following multiple choice questions. Your help is GREATLY appreciated! 1. The real wage a. equals the amount of goods and services that can be bought. b. is the amount of money received per unit of time. c. is not adjusted for changes in the price level. d. will rise faster than the mon

Because monopolistically competitive firms charge a P > MC

Please verify my answers: Because monopolistically competitive firms charge a P > MC a. monopolistic competition is efficient b. monopolistic competition is inefficient c. the marginal benefit to society of an additional unit of output is below its cost d. B and C are true My answer is D When individuals take extern

Questions on tax incidence, competitive markets, and luxury taxes.

1. What are some of the unique characteristics of the competitive market? 2. Discuss the role of elasticity in tax incidence and burden. 3.Competitive Markets Concepts. Indicate whether each of the following statements is true or false, and explain why. A. In long-run equilibrium, every firm i

Frictional, structural, or cyclical unemployment

The following are stats for the unemployment rates for five different groups during the months of Aug. 2005 and Aug. 2006. I need to know what would cause the shift in % for each group and if each group is a form of frictional, structural, or cyclical unemployment and why. 1. unemployment rate, bachelors degree and higher,

Specific Commodity Taxation summary

Question 3: In an effort to collect more revenue, the city of New York is considering imposing a $4 per ticket surcharge on ride tickets for "The Beast" watercraft at the South Street Seaport. (For simplicity, we will ignore the availability of Beast Rides at Pier 86 on West 42nd St.) The Independent Budget Office has su

Which of these issues do you think is most common?

Which of these issues do you think is most common? Fiscal policy refers to nation's policy relating to the government spending, taxing, borrowing and debt management. The main objectives of the fiscal policy are: 1. Mobilization of resources 2. Acceleration of the economic growth 3. To minimize the inequalities of Incom

graded response based on user preference

A Congressional staffer calls you on the phone for advice. Her boss may propose a law where sending an email costs 5 cents for every email address included in the message. The government does not get the money; it goes to the recipient(s) of the email. That is, each person has an email credit account. For every email sent, 5


Length is not much of a factor in the evaluation, relevance is. These answers should be about 1/2 to 3/4ths of a page, excluding any diagrams you may include, where relevant. 1. What are the problems with determining the value of a public good to society? 2. Since economics seeks to bring about the efficient allocat

Having trouble determining formulas for four problems

The explanations in the book don't seem to match how these problems are set up, and I am stumped! I need formulas written in numbers, not lengthy wording. Please help! 1) If the GDP in 1999 were $800 and the GDP deflator was 125%, 1987=100%, what is the real GDP and base year? 2) Assume the MPC is 2/3. If gross investment

Healthcare - fat tax based on BMI

I am writing an essay on implimenting a fat tax based on BMI levels. i need help with discussing whether it would be equitable and efficient to price descriminate based on BMI (charge higher prices to indivituals with higher BMIs) in this i need to discuss adverse selection, the economics of health insurance, and specific connec

Socially Efficient Price and Quantity of the Good

===== 1. Demand for the product is Q = 50-1/2pe 2. Supply is determined by the equation Q = -20+2pe a. What is the equilibrium price and quantity of the good in a perfectly competitive market? b. No imagine that consumption of each unit of the good creates 20 dollars in externality. Illustrate the social welfare loss ass

Economic Systems contrasted

Twin brother, Tom and Bill, constantly fight over toys. For instance, Tom will argue it is his turn to play with a toy, while Bill argues it is his turn. Their parents frequently have to intervene in these disputes. Their mom has conceived an idea that might reduce these conflicts. In particular, every toy in the house would

Corporate form of business organization

7.Which of the following characteristics is most important factor contributing to the growth of the corporate form of business organization: a. There is no distinction between the officers of the company and the owners of the company because they are one and the same. b. Limited legal liability. c. Profits are generally tax