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72. Which of the following statements regarding taxes are correct?
a. A tax is neutral if it has minimum distortion effects on prices.
b. Tax avoidance occurs when people do not pay the taxes they are supposed to pay.
c. A gate fee at a private park is an example of user charges.
[1] a
[2] b
[3] c
[4] a and b
[5] All the statements are correct.
a. A tax is neutral if it has minimum distortion effects on prices.
b. Tax avoidance occurs when people do not pay the taxes they are supposed to pay.
c. A gate fee at a private park is an example of user charges.
[1] a
[2] b
[3] c
[4] a and b
[5] All the statements are correct.
11. Which of the following statements regarding financing of government expenditure are correct?
a. The budget deficit is positively related to the interest on public debt.
b. The government can finance its deficit by buying bonds from the public.
c. Inflationary financing occurs when government borrows from the central bank.
[1] All the statements are correct.
[2] a and b
[3] a and c
[4] a
[5] c
a. The budget deficit is positively related to the interest on public debt.
b. The government can finance its deficit by buying bonds from the public.
c. Inflationary financing occurs when government borrows from the central bank.
[1] All the statements are correct.
[2] a and b
[3] a and c
[4] a
[5] c
Discuss in terms of the definition of gross income and any special inclusion if the scenarios above relate to gross income. Consider the effects of any exemptions if applicable
economic choices are influenced by the availability of factors of production.
Is this true or false
Is this true or false
Expalin how inflation unemployment trade off is not possible in the long run.
A purely competitive wheat farmer can sell any wheat he grow diminishing returns, because some are better suited for wheat production than other. The first acre can produce 1000 bushels of wheat, the second acre 900, the third 800 and so on. How many bushels will each of the farmer's five acres produce? How much revenue will each acre generate? What are the TR and MR for each acre? If the marginal cost of planting and harvesting an acre is $17500 per acre for each of the five acres, how many acres should the farmer plant and harvest ?
Suppose the demand for Frisbees is given by (05+05+10)
Q= 100-2P
And the supply by
Q= 20-6P
a) What will be the equilibrium price and quantities for Frisbees?
b) Suppose the government levies a tax of Rs: 4 per freebies. Now what will the equilibrium quantity, the price consumers will pay, and the price firms will receive?
c) How would your answers to parts (a) and (b) change if the supply were instead Q= 70+ P
Q= 100-2P
And the supply by
Q= 20-6P
a) What will be the equilibrium price and quantities for Frisbees?
b) Suppose the government levies a tax of Rs: 4 per freebies. Now what will the equilibrium quantity, the price consumers will pay, and the price firms will receive?
c) How would your answers to parts (a) and (b) change if the supply were instead Q= 70+ P
What are the determinants (factors) that could cause a demand curve or market demand curve to shift?
Economics
Represent the above game in normal form/strategic form.
b. Identify the dominant strategy for both firms and the dominant strategy equilibrium. c. Is the above equilibrium Nash equilibrium? Is it Pareto efficient allocation? Why?
d. Assuming the game is one-shoot game and Firm 1 moves first represent it in extended form.
b. Identify the dominant strategy for both firms and the dominant strategy equilibrium. c. Is the above equilibrium Nash equilibrium? Is it Pareto efficient allocation? Why?
d. Assuming the game is one-shoot game and Firm 1 moves first represent it in extended form.
Economics
Using well labelled diagrams, explain how the equilibrium price and equilibrium quantity of apples will change as a result of the following; 2.2.1 A change in the wages of farm workers from R150 per day to R200 per day. (10) 2.2.2 A decrease in the price of fertilizers and a concurrent increase in the demand for apple juice.
