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Describe when there will be a surplus of the good?
Why can be value of MPC be not more than one? Answer: The value of MPC will not be more than one since increment in consumption (ΔC) can’t be more than
A tax is shifted forward when the tax burden causes the: (w) consumers to pay higher prices. (x) lower purchasing power for the party bearing the legal incidence. (y) workers to experience lower take home wages. (z) decreased dividends to corporate st
Can someone please help me in finding out the accurate answer from the following question. When Brussels sprouts cost $1 per pound and tofu is $2 per pound and your marginal utilities (additional jollies) from either an additional pound of tofu or an additional pound
Determine the value of MPC whenever MPS is zero? Answer: Whenever MPS = 0, MPC = 1 – 0 = 1.
Hello guys I need your advice. Please advise your view for following economics problems. Microeconomic goals consist of: (w) full employment. (x) efficient allotments of resources. (y) price level stability. (z) ec
What are the “powers of the Federal Reserve
Since the percentage of income paid in taxes generally declines as taxpayer income increases, standard sales taxes and “sin” taxes [for example, excise taxes upon liquor or tobacco] are illustrations of: (1) proportional t
Elucidate the basis of categorizing government receipts into revenue receipts and capital receipts. Answer: Revenue Receipts: The government revenue receipts are such receipts A) that neither makes liability
A flat rate income tax for all levels of income along with no exceptions would be taken as a: (i) proportional tax. (ii) progressive tax. (iii) regressive tax. (iv) common tax. Can anybody suggest me the proper exp
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