Government has increased expenditures to address the Covid Virus situation. It will be interesting to examine the data later to see how fast government expenditure increases for 2020. To answer this question, describe how fast government spending normally grows (say on average 1929 to present) on a per capita basis in real terms. Compare this to the growth rate of real per capita GDP, and comment on whether government is growing faster than the economy or slower.

The following table shows​ Madison's utility from consuming popcorn and Coke. Suppose that Madison has income of ​$10.50​,

the price of popcorn is ​$3.00, and the price of Coke is ​$2.25.

If Madison wants to maximize her​ utility, how much popcorn and Coke should she​ buy?

Madison should buy (blank) boxes of popcorn and (blank) cans of Coke. ​(Enter your responses as​ integers.)

Enter your answer in each of the answer boxes.

Suppose in Fiscalville there is a 5 percent tax on the first $10,000 of income, but a 15 percent tax on earnings between $10,000 and $20,000 and a 25 percent tax on income between $20,000 and $30,000. Any income above $30,000 is taxed at 35 percent. Instructions: Round your answers to the nearest whole number. a. If your income is $60,000, how much will you pay in taxes? b. Determine your marginal tax rate. c. Determine your average tax rate. d. Is this a progressive tax?

The banking system of the United States is a fractional reserve system. What dangers does this pose for the safety of the banking system?

can you answer this in a well explained paragraph thank you.

What would be the financial challenges of opening a small business i.e. bakery/coffee shop?

2

2. Market structures

For each of the following scenarios, identify the number of firms present, the type of product, and the appropriate market model. Select the matching entry for each dropdown box in the following table.

What do Marx and Mill want people to be free from? What did each thinker think that freedom was for?

“In economics, moral hazard occurs when an individual has an incentive to increase their exposure to risk because they do not bear the full costs of that risk. For example, when a person is insured, they may take on higher risk knowing that their insurance will pay the associated costs.”

One of the topics of chapter 10 is market power and concentration. In the current economic crisis, many large firms will receive governments “bailouts.” What is your opinion of the possibility that government “bailouts” will only increase moral hazard of large firms that are “too big to fail.”

As the U.S. economy underwent a historic shutdown due to the pandemic, the Federal Reserve was uncharacteristically bold and swift in pushing out initiatives, facilities, and decisions that have monumental and unusual impacts on the economy, many of these actions go beyond the usual mandate of monetary policy. Please do a little research (including going to the Fed's website) and itemize these actions, along with a brief statement of what each of them does; then add a statement about what you think could be any downside of these actions.

Note: Answer has to be in 250-300 words. please do not copy and paste. try to write in your own words.

Is there really a problem that needs to be addressed regarding the imbalance between wealthy business interests and less-wealthy interests? Can one address this issue without bringing in issues of free speech and individual liberty?

In April 2019, the U.S. unemployment rate fell to 3.6 percent, its lowest level in almost 50 years. In Texas, the unemployment rate was 3.4 percent in June 2019, its lowest level since individual state data began being kept in 1976. Unemployment rates this low are often viewed as being very good for the economy, so explain how low unemployment rates benefit the economy in terms of the following:

• productivity and GDP growth
• wages and wage growth
• consumer confidence
• labor supply & demand
• entitlement spending (make sure you understand the term “entitlement spending”)

Unemployment rates this low can also be viewed as being detrimental to the economy, so explain how low unemployment rates may also damage the economy in terms of the following:

• productivity and GDP growth
• employee loyalty
• potential inflation
• labor supply & demand

Assuming diminishing marginal product of additional workers and diminishing marginal product of additional hours-per-worker, how would a profit-maximizing firm adjust its mix of workers (L) and hours-per-worker (H) in response to: (a) A new user-friendly computer system that reduces training time required by one-half? (b) New legislation requiring full-time workers to receive employer-sponsored health insurance?

It is clear that the "displacement" issue poses a serious problem for accurately calculating the economic impact of a sporting event.

a) Explain why this is true.

b) How could an analyst estimate the extent of displacement?

Paragraph 1-2?

Imagine you’re in a supervisory role at a corporation. You have a new, eager intern who is working with you for the summer. This individual is a student at local college who has not yet had a business writing course. You’ll need them to compose a series of letters for you over the course of the summer. You want to give them a brief guide to business letter writing that will help them learn your expectations and keep you from having to fully revise each letter.