Which of the following would be but best item for the local government to tax if its goal was to raise revenue?
A. Water supply
B. Weather reports on your phone
C. Outdoor concert provided by the city
D. Leaf collection
Answer: A
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What do RBC economists mean by the term calibration?
A) Modifying the structure of an economic theory to strengthen its logic B) Changing a theory as the economy changes C) Working out a detailed numerical example of a more general theory D) Writing out the implications of a theory for all the main economic variables
Mike is able to complete a tax return in two hours earning a fee of $100 . As an alternative, he could pitch in at a volunteer car wash washing four cars in one hour. His roommate Joe would take four hours to complete a tax return earning a $100 fee and also can wash four cars in one hour. Both individuals could benefit if
a. Mike worked on tax returns for eight hours and paid Joe $5 for each car he washed b. Mike worked on tax returns for eight hours and paid Joe $10 for each car he washed. c. Mike worked on tax returns for eight hours and paid Joe $15 for each car he washed d. Joe worked on tax returns for eight hours and paid Mike $10 for each car he washed
Refer to Figure 35.5. If S1 represents the U.S. domestic supply of a good and S2 represents supply in the United States under conditions of free trade, what does S3 most likely represent?
A. U.S. supply under tariff-restricted trade. B. Production possibilities under conditions of free trade. C. U.S. supply under quota-restricted trade. D. The result of a foreign country dumping this good on the U.S. market.
Explain how the asset-price channel of monetary policy works in real estate markets.
What will be an ideal response?