geography plan

Carbon tax debate heats up in Montpelier VT Vermonters are debating the pros and cons of a state carbon tax-a new tax on gasoline, heating oil, and other fossil fuels sold in the state. Backers say the tax revenue would be used to cut other taxes and increase energy efficiency. Source: Watchdog.org, December 3, 2015 Draw a graph of the market for gasoline in Vermont to show the "pro" and the "con" for a state carbon tax. The graph shows the market for gasoline in Vermont when there is no carbon tax on gasoline. Draw a point that shows the market equilibrium. Label it 1 Transport that uses gasoline creates emissions pollution, and the quantity of emissions increases as the amount of gasoline used increases. Draw the marginal social cost curve and label the curve. Draw a point at the efficient market outcome. Label it 2. Now suppose the government places a carbon tax on gasoline equal to the marginal external cost at the efficient quantity of transport. Draw an arrow at the efficient…

FRONT PAGE State Lotteries: A Tax on the Uneducated and the Poor Americans now spend over $85 billion a year on lottery tickets. That's more than we spend on sporting events, books, video games, movies, and music combined. That spending works out to about $650 a household. Poor people are proportionally the biggest buyers of lottery tickets. Households with less than $25,000 of income spend $1,100 a year on lottery tickets. By contrast, households with more than $50,000 of income buy only $300 of lottery tickets each year. Education also affects lottery spending: 2.7 percent of high school dropouts are compulsive lottery players, while only 1.1 percent of college grads play compulsively. Because lottery games are a sucker's game to start with-payouts average less than 60 percent of sales-lotteries are effectively a regressive tax on the uneducated and the poor. Source: Research on lottery sales. According to Front Page Economics, what percentage of income is spent on lottery tickets by…

FRONT PAGE State Lotteries: A Tax on the Uneducated and the Poor Americans now spend over $85 billion a year on lottery tickets. That's more than we spend on sporting events, books, video games, movies, and music combined. That spending works out to about $650 a household. Poor people are proportionally the biggest buyers of lottery tickets. Households with less than $25,000 of income spend $1,100 a year on lottery tickets. By contrast, households with more than $50,000 of income buy only $300 of lottery tickets each year. Education also affects lottery spending: 2.7 percent of high school dropouts are compulsive lottery players, while only 1.1 percent of college grads play compulsively. Because lottery games are a sucker's game to start with-payouts average less than 60 percent of sales-lotteries are effectively a regressive tax on the uneducated and the es poor. Source: Research on lottery sales. According to Front Page Economics, what percentage of income is spent on lottery tickets…

K P % 5 My Child, My Choice If all U.S. children were vaccinated many lives would be saved, infections would be down, and medical costs would be lower. Vaccinations protect not only the kids that receive the shots but also those who can't receive them. Source: Time, June 2, 2008 Draw a graph to illustrate the private market for vaccinations and show the deadweight loss. t Draw a demand and marginal benefit curve. Label it D = MB. Draw a supply and marginal cost curve. Label it S= MC. As the quantity of vaccinations increases, the marginal external benefit from each vaccination decreases. Draw a marginal social benefit curve. Label it MSB. Draw a point at the market equilibrium. Label it 1. Draw a point at the efficient equilibrium. Label it 2. Draw a triangle that shows the deadweight loss. Label it DWL. 6 y g h & 7 O * 8 70 O k ( 9 $ O 12- 10- 8- 0- 0 Price (dollars per flu shot) 8 10 Quantity (millions of flu shots per season) >>> Draw only the objects specified in the question. 0 р…

3 tax policies that'll be beneficial for everyone

Canada's dairy industry is a rich, closed club If you want to be a dairy farmer, you buy a plot of land and some cows and start to sell your milk. Not in Canada. There, farmers must buy a quota to produce a set amount of milk. The situation is similar in the markets for chicken and eggs. Source: The Globe and Mail, June 25, 2015 Draw a graph to illustrate the Canadian market for milk. With a production quota, show the quantity of milk produced, the price, consumer surplus, producer surplus, and the deadweight loss created. The graph shows the demand curve and supply curve in the Canadian milk market. Draw a line to indicate the production quota if the production quota is 250 million gallons a year. Label it. Draw a point to show the quantity produced and the price paid by consumers. Draw shapes to show the consumer surplus, the producer surplus, and the deadweight loss created. Label them. 3 e d C C $ 4 r Selected: none % 5 t 6 100 b Oll > 18|||| g ✓ A 20 h & 7 0 n u 11 * 10- 8 0 A…

5. The Canadian government provides subsidies to diaper manufacturers to produce biodegradable diapers and reduce waste created. What happens to the market when the government introduces a subsidy?

Canada's dairy industry is a rich, closed club If you want to be a dairy farmer, you buy a plot of land and some cows and start to sell your milk. Not in Canada. There, farmers must buy a quota to produce a set amount of milk. The situation is similar in the markets for chicken and eggs. Source: The Globe and Mail, June 25, 2015 Draw a graph to illustrate the Canadian market for milk. With a production quota, show the quantity of milk produced, the price, consumer surplus, producer surplus, and the deadweight loss created. The graph shows the demand curve and supply curve in the Canadian milk market. Draw a line to indicate the production quota if the production quota is 250 million gallons a year. Label it. Draw a point to show the quantity produced and the price paid by consumers. Draw shapes to show the consumer surplus, the producer surplus, and the deadweight loss created. Label them. 3 e d Selected: none C % C $ 4 1806 100000 t 5 Oll ✓ 6 & 7 h O g 0000 b A 10- 0 100 200 300 400…

The graph shows the market for backpacks. Price (dollars per backpack) 22- 20- 18- 16- 14- 12- 10- 8 6- D 100 200 300 400 500 600 700 800 Quantity (backpacks per day) If a sales tax of $4 a backpack is imposed, calculate the tax burden. The tax burden is $ Type a day. That's incorrect. With a $4 tax on backpacks, the price paid by the buyer is $4 more than the price received by the seller. What is the quantity of backpacks bought and sold? What is the tax revenue? What is the excess burden? What is the tax burden?

The following is a Table that contains the demand and supply schedules of chocolate ice-creams. Price (cents per ice-cream) $0.90 0.80 0.70 0.60 0.50 0.40 Quantity Demanded (millions per day) 1 asifWNH 2 3 4 5 6 Quantity Supplied (millions per day) 7 6 10 10 5 4 3 2 a) If there is no tax on ice-creams, what is their price and how many are produced and consumed? b) If a tax of $0.20 cents is imposed on every ice-cream consumed, what happens to the price of an ice-cream and the number produced and consumed? Illustrate the effects of this policy on the market for chocolate ice-creams. c) How much tax does the government collect and who pays it?

Use the graph below to answer the following questions? MC M Social Demand Private Demand V Quantity (units/day) What is the socially optimal price for this market? [ Select] What is the socially optimal quantity for this market? [Select] What price will be the equilibrium price in this market? [Select ] What quantity will be the equilibrium quantity in this market? [Select] How can the government achieve the socially optimal quantity in equilibrium? [ Select ] Price ($/unit)

Table: The market for taxi rides Fare (per ride) $7.50 7.00 6.50 6.00 5.50 5.00 4.50 4.00 3.50 3.00 2.50 2.00 5 6 7 89 10 11 12 13 14 15 Quantity of rides (millions per year) Look at the table "The Market for Taxi Rides". If a tax of $2.00 per taxi ride is implemented in this market, how much will consumers pay for a taxi ride? O $6.00 O $4.00 O $7.00 O $5.00

Nearly One-Third of U.S. Workers Make Less than $15 an Hour Source: Leslie Albrect, MarketWatch.com, March 23, 2022 At a time when the prices of groceries, gas and other essentials have soared to new heights, nearly one- third of U.S workers earn "poverty-level wages" of less than $15 an hour. That's according to a new data analysis from the global poverty charity Oxfam, which found that 51.9 million U.S. workers make less than $15 an hour, or $31,200 a year. "It's shameful that at a time when many U.S. companies are boasting record profits, some of the hardest working people in this country especially people who keep our economy and society functioning - are struggling to get by and falling behind." said the report's author, Kaitlyn Henderson, senior research advisor at Oxfam America. " Women and people of color are "vastly overrepresented" in these low-wage jobs, the report found, with 47% of Black people making less than $15 an hour versus 26% of white people. Some 50% of working…

The following graph shows the daily market for wine. Suppose the government institutes a tax of $11.60 per bottle. This places a wedge between the price buyers pay and the price sellers receive. (? 50 45 40 Supply 35 Tax Wedge 10 5 Demand 50 100 150 200 250 300 350 400 450 500 QUANTITY (Bottles of wine) PRICE (Dollars per bottle)

The graph shows the market for backpacks. Price (dollars per backpack) 22- 20+ 18- 16- 14- 12+ 10- 8- မှာ 0 100 S D 200 300 400 500 600 700 800 Quantity (backpacks per day) If a sales tax of $4 a backpack is imposed, calculate the tax burden. The tax burden is $ Type a day.

The following graph shows the supply curve for a group of students looking to sell used statistics textbooks. Each student has only one used textbook to sell. Each rectangular segment under the supply curve represents the "cost," or minimum acceptable price, for one student. Assume that anyone who has a cost just equal to the market price is willing to sell his or her used textbook. (?) 430 190 Eleen ancy Susan 70 Raphael 1. QUANTITY (Ued lebeoka) Region A (the purple shaded area) represents the total producer surplus when the market price is , while Region B (the grey shaded area) represents * when the market price In the following table, indicate which statements are true or false based on the information provided on the previous graph. Statement True False Producer surplus is smaller when the price is $245 than when it is $175. Assuming each student receives a positive surplus, Susan will always receive more producer surplus than Alex. In order for Eileen to earn a producer surplus…

The graph shows the market for pillows in which the government has imposed a sales tax of $6 per pillow on sellers. Draw a point to show the price of a pillow and the quantity of pillows bought and sold with no tax. Label it 1. Draw a point to show the price paid by buyers and the quantity of pillows bought following the tax. Label it 2. Draw a point to show the price received by sellers and the quantity of pillows sold following the tax. Label it 3. The tax is O A. split between sellers and buyers, with buyers paying more than sellers O B. paid by buyers and not sellers because tax is always added to the sale price at the check-out OC. paid by sellers and not buyers because the government imposed the tax on sellers O D. split evenly between sellers and buyers 16 14- 12- 10- 84 6- 4- 2- Price (dollars per pillow) S + tax on sellers S D 12 + 6 10 Quantity (millions of pillows per year) >>> Draw only the objects specified in the question.

Table: The market for taxi rides Fare (per ride) $7.50 7.00 6.50 6.00 5.50 5.00 4.50 4.00 3.50 3.00 D. 2.50 2.00 5 6 7 89 10 11 12 13 14 15 Quantity of rides (millions per year) Look at the table "The Market for Taxi Rides". If a tax of $2.00 per taxi ride is implemented in this market, how many taxi rides will be taken? O 10 million 6 million 8 million 9 million

In the graph below, click on the dashed line that indicates the quantity consumed after a tax is imposed on coffee sales. price, P 0 B A E F D S coffee, Q

2. Hope, Arkansas (home of both ex-President Bill Clinton and former Presidential candidate Mike Huckabee), has a subway system, for which a one-way fare is $1.50. There is pressure on Governor Huckabee to reduce the fare by one-third, to $1.00. The Governor is dismayed, thinking that this will mean Hope is losing one-third of its revenue from sales of subway tickets. The Governor's economic advisor reminds him that he is focusing only on the price effect and ignoring the quantity effect. Explain why the Governor's estimate of a one-third loss of revenue is likely to be an overestimate using elasticity of demand.

$30 a week boost to minimum wage The government has increased the minimum wage by $30 a week to $570 a week. Unions wanted a $35 a week increase, but employers argued that that level of increase was unaffordable and would send smaller firms to the wall. Source: ABC Australia, February 11, 2 On a graph of the market for low-skilled labor, show the effect of the $30 a week increase in the minimum wage on employment of low-skilled labor. The graph shows the market for low-skilled labor. The y-axis label is and the x-axis label is Draw a point on the market supply curve and label it S. Draw a point on the market demand curve and label it D. Draw a point to show the wage rate and workers employed if the minimum wage is set at: 1) $540 a week. Label the point 1. 2) $570 a week. Label the point 2. Draw an arrow to show the change in employment from the increase in the 590- 580- 570- 560- 550- 540- 530- 520- 510- 980 Y 990 1000 X 1010 1020 >>> Draw only the objects specified in the question.…

$30 a week boost to minimum wage The government has increased the minimum wage by $30 a week to $570 a week. Unions wanted a $35 a week increase, but employers argued that that level of increase was unaffordable and would send smaller firms to the wall. Source: ABC Australia, February 11, 2 On a graph of the market for low-skilled labor, show the effect of the $30 a week increase in the minimum wage on employment of low-skilled labor. The graph shows the market for low-skilled labor. The y-axis label is Workers per week Workers per week and the x-axis label is Draw a point on the market supply curve and label it S. Draw a point on the market demand curve and label it D. Draw a point to show the wage rate and workers employed if the minimum wage is set at: 1) $540 a week. Label the point 1. 2) $570 a week. Label the point 2. Draw an arrow to show the change in employment from the increase in the M 590- 580- 570- 560- 550- 540- 530- 520- 510- 980 Y 990 1000 X 1010 1020 >>> Draw only the…

18. Price controls in the Florida orange market The following graph shows the annual market for Florida oranges, which are sold in units of 9o-pound boxes. Use the graph input tool to help you answer the following questions. You will not be scored on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool Market for Florida Oranges 50 45 Supply IPrice (Dollars per box) 15 40 Quantity Demanded (Millions of boxes) Quantity Supplied (Millions of boxes) 408 210 35 30 25 20 bemand 15 10 15 70 140 210 280 350 420 490 560 630 700 QUANTITY (Milions of boxes) In this market, the equilibrium price is $ per box, and the equilibrium quantity of oranges is million boxes. PRICE(Dollars per box)

Venezuelans organize to overcome food shortages The government of Venezuela controls the price of food and there are shortages of milk, rice, coffee, pasta, sugar, corn flour and cooking oil. Eggs have disappeared from store shelves. Source: www.teleSURtv.net/english, November 27, 2015 The price controls described in the news clip are A. price floors OB. price ceilings The graph shows the demand and supply of food in Venezuela. Draw a line to show the price control described in the news clip. Draw an arrow at the price control to show the shortage or the surplus created by the price control. Give it the appropriate label. 60- 50- 40- 30- 20- 10- 0- to 0 Price (bolivars per unit) 100 200 300 400 ADD A LABEL D 500 600 700 Quantity (units of food) >>> Draw only the objects specified in the question. Next Q

Homework (Ch 06) Back to Assignment Attempts Do No Harm / 2 5. Calculating tax incidence Suppose that the U.S. government decides to charge wine consumers a tax. Before the tax, 50 million bottles of wine were sold every month at a price of $4 per bottle. After the tax, 45 million bottles of wine are sold every month; consumers pay $6 per bottle (including the tax), and producers receive $3 per bottle. per bottle. Of this amount, the burden that falls on consumers is $ per bottle, and the The amount of the tax on a bottle of wine is $ burden that falls on producers is $ per bottle. True or False: The effect of the tax on the quantity sold would have been larger if the tax had been levied on producers. O True O False

What would happen if, in order to provide lower cost healthcare, the government decided to set a price ceiling (Pmax) in the health insurance market? What is the effect of this maximum price legislation on the market for health insurance? Briefly explain the situation for both consumers and producers (i.e. healthcare providers). What might the government do to achieve their intended aims (i.e. lower costs and increased quantity)?

Provide examples and/or latest news or updates of the law and supply and demand

Use the following graph to answer the next three questions. Price Supply B C E A D Demand Quantity In the above graph, which combination of areas represents the social welfare? OD+E A + B A+D B + C

Graph the following data on social and market demand: Im pretty sure I have the graph correct but I am unsure how to find the anwsers to the questions. Price ($) 20 18 16 14 12 10 Market quantity demanded (units per month) 10 20 30 40 50 60 Social quantity demanded (units per month) 20 30 40 50 60 70 Does this product have external benefits or external costs? How large ($) is that externality

With the help of appropriate diagrams, explain how a tax can be used to reduce the consumption of a harmful product such as cigarettes.

An editorial in The New York Times about the state of the schools in Washington, DC: "The imbalance is particularly disturbing, given that the District's children fair worse at school than children in other big cities."

16 4 points 01:17:49 eBook Print References Mc Graw Hill The figure below shows the demand curve for a U.S. farmer for irrigating his land. It costs $100 per acre to irrigate the land. Each acre of land irrigation generates salty runoff that winds up in the Colorado River. It costs $50 to desalinate this river water so Mexican farmers can irrigate their crops. O Price $275 $250 $225 $200 $175 $150 $125 $100 $75 $50 $25 0 10 70 80 Irrigation (acres) 20 30 80 50 60 90 D=MB =MB pvt 100 110 120