Politics Question

Although government from the state to the local level is clearly unitary, local finance is very diverse, with many local levies and revenue streams. Should states abolish all local taxes and institute more efficient tax reforms? Why/why not?

in you own word do a case study on plastic bottles, as in effort to reduce plastic bottles.

The WTO’s primary purpose is to serve as a negotiating forum for member nations to dispute, discuss, and debate trade-related matters. More than just a series of trade agreements, as it was under GATT, the WTO undertakes discussions on issues related to globalization and its impact on people and the environment, as well as trade-specific matters. It doesn’t necessarily establish formal agreements in all of these areas but does provide a forum to discuss how global trade impacts other aspects of the world. Explain what the biggest difference is between the move from GATT to WTO.

Consider two economies. In economy A:  autonomous consumption equals 700, the marginal propensity to consume equals 0.80, taxes are fixed at 50, investment is 100, government spending is 100, and net exports are 40.

In economy B: autonomous consumption equals 1000, the marginal propensity to consume equals 0.8, taxes are proportional to income such that consumers pay 25% of their income as taxes, investment is 250, government purchases are 150, and net exports are 400.

Question 1: What is the planned aggregate expenditure (PAE) in each economy?

Question 2:What is the short-run equilibrium output in each economy?

Question 3: In which economy is the spending multiplier higher?

Question 4:Suppose autonomous consumption fall by 500 in each economy. Which economy will see a higher drop in GDP? Compute the equilibrium output in each economy.

Your friend works as a software analyst and earns $80000 a year. She also has a part-time job of baking cooking for school and party events. She earns up to $500 per event and caters as many as five events a month . She is wondering if she should switch to baking cookies full time when she might be able to cater 25 events a month. Her operating expenses would be expected to rise by $10000 per year. What is the opportunity cost for her is she switches to full-time crating? What recommendation would you make to your friend about her career, after weighing the pros and cons of each option ?

The following income distribution data are for Brazil.

(i) Brazil’s national income is about $300 billion. What is the approximate dollar income of the bottom 20%? Bottom 40%?

(ii)  Suppose one percent of national income were transferred from the richest 20% of households to the poorest 20% of households. In the context of the Lorenz curve, would we see an increase in the Lorenz curve or a decrease? Briefly explain you answer.

(iii) Given the information in the table above, calculate the Kuznets ratio for Brazil.

Compare and contrast Trial and Appellate Courts?

Commercial painting company purchased 50 cans of specialty paint. Seller has 100 cans for sale in his store. Painter cannot pick up the paint for 2 days but has paid in full. What protection should Painter insist on? That is, what term should be included in the contract for sale that would benefit Painter if the seller’s store blows up before pickup?
a.
Contract should provide a warranty for the quality of the paint.
b.
Contract should provide Buyer can get its money back if it finds a better deal.
c.
Contract should require the Seller to post a guard over the property.
d.
Contract should require Seller to identify the goods to the contract.

Commercial painting company purchased 50 cans of specialty paint. Seller has 100 cans for sale in his store. Painter cannot pick up the paint for 2 days but has paid in full. What protection should Painter insist on? That is, what term should be included in the contract for sale that would benefit Painter if the seller’s store blows up before pickup?
a.
Contract should provide a warranty for the quality of the paint.
b.
Contract should provide Buyer can get its money back if it finds a better deal.
c.
Contract should require the Seller to post a guard over the property.
d.
Contract should require Seller to identify the goods to the contract.

Personal property is best defined as anything NOT real property (land and everything permanently affixed to it), that is property that is capable of being moved. Which item below is not personal property?
a.
specially designed windows for a historic home that have been installed in a historically correct method. (The home is on the US historical register and must remain conforming in all aspects to its era).
b.
trees on a tree farm that have been cut and sold to the local lumber yard.
c.
ducting delivered to a home construction job site that will be installed in the heating/AC system next week.
d.
copyrights and patents owned by a business.

An appliance store salesperson told a potential customer that a particular wine refrigerator can chill wine to 40 degrees in one hour. The customer purchased the refrigerator. In fact, the temperature reached only 65 degrees, barely chilling a large bottle of champagne. If the customer sues the store, the likely cause will be for breach of _______________.
a.
puffery.
b.
a warranty of merchantability.
c.
a warranty of fitness for chilling small bottles only.
d.
a warranty of good title.

Policymakers might be interested in knowing how a change in the legal constraints facing consumers and firms would affect individual welfares. Suppose initially a consumer is consuming market basket A. If a certain policy is adopted, this consumer will end up consuming market basket B. Knowing what these two market baskets are, and nothing else, can you say if the consumer is better or worse off from the change in their consumption? 1. yes 2. no

What specific actions did the Federal Reserve take in response to the 2007-2009 financial crisis: i) Using the lender of last resort tool? ii) Using the monetary policy tool?

To what extent are institutions the fundamental force driving economic growth? Discuss in the context of Canada’s economic history.

Fan Bingbing is one of China’s highest-profile celebrities. She is one of the best paid actors in the world and is known in the west for her role in X-Men: Days of Future Past. In 2018, Fan Bingbing ‘disappeared’ following allegations of tax evasion. She returned to public life in 2019 following an investigation by the Chinese tax authorities. She apologised and agreed to pay fines and unpaid taxes to avoid criminal prosecution. Reaction to Fan Bingbing’s return has been mixed. Users of Weibo (a social media network in China) have been ‘overwhelmingly negative’ (The Guardian, 2019). Comments have included ‘these scandalous celebrities should forever be discarded by the audience’. The Guardian (2019) Chinese star Fan Bingbing reappears after nearly a year in the wilderness, The Guardian, 25 April, 2019.

Overall word limit: 3000 words

Required: Critically evaluate the approach to tax compliance that was used by the Chinese tax authorities in the Fan Bingbing case.

Note: a detailed description of the Fan Bingbing case is not required. The focus of your response should be a critical evaluation of the approach to tax compliance that was used by the Chinese tax authorities.

What are three ways to reduce adverse selection by equalizing information? (and explain)

In your initial post, please address the following:

• Describe a situation, either personal or professional, where you interacted with a member of a different cultural group. Identify the cultural group(s) to which you and the other person belonged.
  • Remember from lecture that culture involves not just ethnic groups or language differences, but can also include differences in values, beliefs, and norms that result from living in different parts of the same country or state! Culture is simply what a large group of people has in common.
• Explain the differences in language, beliefs, values, norms, etc. that were noticeable in your interaction. Make sure to remain professional and nonjudgmental in your description.
• Assess how the cultural differences that were noticeable in this interaction affected communication.
• Finally, evaluate how you might have behaved differently in this situation given what you learned in class so far.

In order to engage in an active discussion environment, submit your initial discussion post by Wednesday.