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What part of the legislation provides details of how much income tax must be paid and what does it state?
If an economy produces computers and pizzas and a technological innovation makes the production of computers cheaper, we would expect the economy's production of pizzas to:


-decrease by an amount equal to the increase in computers.

-stay the same.

The primary factors underlying economic growth are:

-expanding resources and improving technology.

-rising exports and imports.

-falling consumer demand but improving technology.

-expanding resources and rising interest rates.
groupK : smart
groupM : not as smart

Cost of attaining education:
CK(e) : 3000e
CM(e) : 4000e e stands for years of education

employees are offered 30,000 if e<e*
employees are offered 90,0000 if e>e*

Question; for education to serve as a signal for smarts what is the min e* employers should set?
Question: Assume that the reserve ratio in a country is 16%. Calculate the simple money multiplier?
To use a computer on rent attract a fixed change of $x per hours
How much would you pay to use the machine for one day without break
ii) Suppose that a customer deposits $7,000 into their bank account. Based on the simple money multiplier calculated in part i), calculate the final change in the money supply available in the banking system. (Part i answer is 6.25)

iii) Calculate the final change in the money supply available in the banking system if the reserve ratio increases to 25%. Explain briefly how the money multiplier works.
Which of the following statements is true of a command economy?

People have most of the control over available goods and services.

Production is based on consumer preferences.

Products readily available in a market economy may be rare or nonexistent.

People are allowed t work in any job or career they choose.
Consider a production function given as Q(X_(1 ,) X_2)=x_1^0.4 x_2^0.6
Calculate the marginal rate of technical substitution of x_(1 )for x_2
Suppose there are two firms (f1and f2) producing identical product competing for market share and each of which like to dominate the other, if possible. They each faced a choice between Defending and cooperating. When either defends or both cooperate, neither is able to dominate the other. Assume these preferences are reflected in their profit pay offs. If both the player’s choice to defend, their profit will be150 each. when one firm defends and the other cooperates their profit level will be 500 and 0 respectively. similarly, when both cooperate they end up with profit level of 300 each. with this in mind:
a. Represent the above game in payoff matrix form.
b. Identify the dominant strategy for both firms and the dominant strategy equilibrium?