1. The government of Cloneland faces a long-standing constitutional con- straint against levying lump-sum taxes. This...
1. The government of Cloneland faces a long-standing constitutional con- straint against levying lump-sum taxes. This is unfortunate, because everyone in Cloneland is identical. The government must raise a given revenue of R per person to pay tribute to a foreign colonial power that conquered Cloneland many centuries ago. The citizens of Cloneland consume two goods (21 and x2) and they supply labour (L) to earn enough to cover their consumption purchases. The Clones all have a wage of one;...
1. a) The government is contemplating introducing one of two alternative taxes: a tax on commodity x (that would double the price of x, expressed in terms of the numeraire good, y) and a lump sum tax. Assume that the government knows the preferences (i.e., the indifference mapy of a representative taxpayer and his/her indifference curves have the usual convex shape. Suppose that government could predict how much tax revenue it could raise if it introduced the commodity tax. With...
1- Consider a monopolistic market where the government has decided to implement lump-sum tax. Which of the following are true? Select all that apply. The monopolist loses profit. The government gains revenue. The monopolist is forced to reduce their prices. The monopolist is forced to sell less products. 2-Consider a monopolistic market where the government has decided to implement lump-sum tax. Which of the following are true? Select all that apply. The monopolist loses profit. The government gains revenue. The...
Multiple Choice: 1) Assume the MPC is 0.75 and lump sum taxes are collected by the government. What is the government tax multiplier? A)-1.33 B) - 25 C) - 75 D) -4 E) -3 , which the recessionary gap. 2) During a Recession, the MPC tends to a) Increase, increases b) Decrease, decreases c Decrease, increases d) Increase, decreases 3) Suppose that the MPC is.75 and the US Federal Government reduces taxes by 10 million dollars. After 3 rounds of...
Chapter overview 1. Reasons for international trade Resources reasons Economic reasons Other reasons 2. Difference between international trade and domestic trade More complex context More difficult and risky Higher management skills required 3. Basic concept s relating to international trade Visible trade & invisible trade Favorable trade & unfavorable trade General trade system & special trade system Volume of international trade & quantum of international trade Commodity composition of international trade Geographical composition of international trade Degree / ratio of...
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Budgetary Policy and Economic Growth Errol D'Souza The share of capital expenditures in government expenditures has been slipping and the tax reforms have not yet improved the income...
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SPECIAL ARTICLES tole of Monetary Policy C Rangarajan What should be the objectives of monetary policy? Does the objective of price stability conflict with the goal of achieving...