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If we make cigarettes much more expensive (say, by imposing a high tax on them), will overall (among everybody in population, young and old) smoking rates in the country change a lot


using the aggregate supply aggregate demand model explain how output and prices are determined. will output vary or stay fixed in the long run? suppose the aggregate demand curve were to remain fixed. what can we infer about the behavior of prices over time?




Midterm Exam:

-In a one whole short bondpaper,make a proposal project that addresses more than 2 global problems like environmental issues, food security, economic crisis, or any sustainable problems. Much better if there's a picture or drawing. 


Which of the costs being discussed by Mr. Powell are fixed costs and which are variable

Clue: In analyzing this issue, Mr Powell is making the assumption that output of the cane harvesting industry is measured in tones of harvested cane rather than hectares of the cane harvested. It will be easier to determine which costs are fixed and which are variable by treating hectares of harvested cane as the output. Do you think harvesting contractors are paid by tonne or the hectare? 


Why these near empty restaurants and off season miniature golf course remain open with so much low attendance?

The local town concert band has fixed cost of 500 per concert and variable costs of 2.00 per person who attended the concert. If they raise their ticket price from 2.25 to 2.50, their break-even level


n individual derives utility from the consumption of two goods x and y. Her utility function is given by U(x,y) = 2X2 +Y2. She maximizes her utility subject to the budget constraint M = PxX + PyY.



a. Write down her constrained optimization problem.



b. Write down the first order conditions and show that these imply that utility is maximized when the marginal rate of substitution equals the slope of the budget constraint.



c. Suppose M=100 and Px = 5 and Py = 3. Calculate x* and y* and compute the individual’s utility.



d. Calculate the value of λ and interpret the result

The following transaction relates to the accounting records of SA Attorneys for March 2022. The legal practice is registered as a VAT vendor. On 24 March 2022, SA Attorneys paid the Sheriff with a business cheque of R115, for the delivery of a summons to A South. The amount that must be recorded in the subsidiary journal for VAT output is….


Make use of a theoretical approach for comparative politics as identified in your textbook and compare and contrast the political systems of the United States of America (USA) and South Africa


Please answer the questions below in no more than 500 wordsbased on the following posed trade policy scenario: The US increases trade restrictions with China.

  1. How does this affect Aggregate Demand and Supply?
  2. What are the corresponding effects on Unemployment and Inflation as a result?
  3. What fiscal and or monetary policies would you recommend to bring the economy back to Long Run Equilibrium?
  4. Why would or why wouldn't you support this trade policy?
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