5) (20 points) For each statement, say if it is True, False, or Uncertain. (Not if...

Question

Question

5) (20 points) For each statement, say if it is True, False, or Uncertain. (Not if you are uncertain, but if the statement cannot be determined to be true or false.) AND, briefly explain and support your answer. a) Adam Smith, in The Wealth of Nations, argued that everyone should pay the same amount in taxes, like a flat tax b) By removing a 50 cent per gallon excise tax on gasoline, consumers would see a decrease of 50 cents per gallon in gas prices at the pump. c) Economic rent is an accounting cost to the firm but not an economic cost. d) Non-sunk costs can also be fixed costs

business economics

Add a comment Improve this question Transcribed image text

Answer 1

Similar Homework Help Questions

True/False/Uncertain. For each question, answer “True” or “False” or “Uncertain” and explain your answer. (1) In...

True/False/Uncertain. For each question, answer “True” or “False” or “Uncertain” and explain your answer. (1) In any game between two firms that is repeated only once, the outcome will be perfect competition (P=MC). (2) Suppose that regulators decide to increase the gasoline tax by 25 cents per gallon to combat global warming. Then consumers will pay substantially more for every gallon of gas they purchase.
8. True/False. For each of the following decide whether the statement is true, false, or uncertain...

8. True/False. For each of the following decide whether the statement is true, false, or uncertain and explain why. Your explanation is the important part of the answer. a. The growth rate of a product is the sum of the individual growth rates. b. Differences in the quality of institutions are the sole cause of differences in per capita income levels across countries. (Hint: The article, “What Makes Countries Rich or Poor? A Review of Why Nations Fail” by Jared...
1. True, False or Uncertain: For each of the following statements determne if the statement is...

1. True, False or Uncertain: For each of the following statements determne if the statement is TRUE, FALSE, or UNCERTAIN. You must justify your answer either graphically or algebraically. No credit will be given without an explanation. a. "Suppose that the CPI in Japan in 2015 is equal to 180 and the CPI in the United States in 2015 is equal to 165. Then the inflation rate in Japan was higher than the U.S. inflation rate between 2014 and 2015."...

True, False, Uncertain [18 marks - 6 marks each] Explain why each statement is true, false,...

True, False, Uncertain [18 marks - 6 marks each] Explain why each statement is true, false, or uncertain. 1. The opportunity cost of a point in the interior of the production possibilities set is equal to zero 2. If a country has absolute advantages in the production of all goods, then no trade will take 3. There is a commercial ban on trading ivory, but a black market has developed. Ivory from up because resources are being used efficiently. place....
For each statement, decide whether it is True, False or Uncertain and explain why briefly 1-...

For each statement, decide whether it is True, False or Uncertain and explain why briefly 1- Y=w*L + r *K , where Y is GDP, is this equation true? And if it is, can you explain the intuition? 2- Output is a function of Capital and Labor. In the Solow growth model, you can save and grow your capital indefinitely, and then your economy will always grow and standards of living will rise forever. 3- In the neoclassical model, government...
TRUE-FALSE-UNCERTAIN For each of the following claims, indicate whether it is true or false, or whether...

TRUE-FALSE-UNCERTAIN For each of the following claims, indicate whether it is true or false, or whether it could be either one, depending on circumstances. Then, explain why. Your grade will depend on your explanation. Try to make sure your explanation is not only correct but thorough. In particular, if a statement is false for more than one reason, discuss all those reasons (even though, logically, it takes just one contradiction to make the entire statement false). Doing this will prepare...

Indicate whether each of the following statements is true, false, or uncertain and explain your answer....

Indicate whether each of the following statements is true, false, or uncertain and explain your answer. Be sure to clearly define any concepts included in your answer and label all graphs. Suppose that inverse market demand for Firm A sweatshirts is P= 200 – 2QD and inverse market supply for these sweatshirts is given by P = 7.5 + ½QS. The economic incidence of a tax on Firm A sweatshirts will fall more on consumers than on producers. Dan’s Deli...
Explain why each of the following statements is True, False, or Uncertain according to economic principles....

Explain why each of the following statements is True, False, or Uncertain according to economic principles. Use diagrams where appropriate. 1. Suppose your neighbour cuts the lawn on Sunday mornings while you would enjoy quiet Sundays. This is an example of a negative externality, but if the neighbor values the activity at $30/week, and you value the quiet at $20/week, the efficient solution is for your neighbour to keep mowing. 2. In an economy with only two consumers and where...
Part A. True/False Determine whether each statement below is True (T) or False (F). Your answers...

Part A. True/False Determine whether each statement below is True (T) or False (F). Your answers should be recorded on the Scan-Tron answer sheet. Using a No. 2 pencil: • Darken Box A for a True statement • Darken Box B for a False statement 1. Paula and her husband are getting a divorce. In connection with splitting up their assets, Paula transfers stock to her spouse when the fair market value of the stock is $95.000. Paula's tax cost...

5) (20 points) For each statement, say if it is True, False, or Uncertain. (Not if...

Homework Answers

Request Answer!

Add Answer to:
5) (20 points) For each statement, say if it is True, False, or Uncertain. (Not if...

Post as a guest

Earn Coins

True/False/Uncertain. For each question, answer “True” or “False” or “Uncertain” and explain your answer. (1) In...

8. True/False. For each of the following decide whether the statement is true, false, or uncertain...

1. True, False or Uncertain: For each of the following statements determne if the statement is...

True, False, Uncertain [18 marks - 6 marks each] Explain why each statement is true, false,...

For each statement, decide whether it is True, False or Uncertain and explain why briefly 1-...

TRUE-FALSE-UNCERTAIN For each of the following claims, indicate whether it is true or false, or whether...

Indicate whether each of the following statements is true, false, or uncertain and explain your answer....

Explain why each of the following statements is True, False, or Uncertain according to economic principles....

Part A. True/False Determine whether each statement below is True (T) or False (F). Your answers...

5) (20 points) For each statement, say if it is True, False, or Uncertain. (Not if...

Homework Answers

Request Answer!

Add Answer to: 5) (20 points) For each statement, say if it is True, False, or Uncertain. (Not if...

Post as a guest

Earn Coins

Add Answer to:
5) (20 points) For each statement, say if it is True, False, or Uncertain. (Not if...