A. Is the following positive statements or normative statements? I. "Earnings increase with education because education raises a worker's productivity." The taxes imposed on gasoline in Barbados is excessive and inequitable to motorists. II. A decrease in income will result in a fall in the demand for motorcycles.

Q: Remember that Molly has a $2500 down payment saved for this purchase. The dealer will take the $500…

A: The loan is the amount of money which would result in the amount of money borrowed and used for…

Q: I need help working through this problem

A: Market clearing price and quantity is archived where both seller and buyer agree to exchange their…

Q: (Trade Restrictions) Suppose that the world price for steel is below the U.S. domestic price, but…

A: When a country wants to restrict its imports of foreign goods it can use two devices: Tariffs…

Q: The table shows a private open economy. All figures are in billions of dollars. Real GDP C+ lg Net…

A: The real GDP refers to the total goods and services produced in an economy in a given fiscal…

Q: Why would someone choose a fixed rate loan over a variable rate loan?

A: In the field of economics, a loan is defined as the act of lending money or resources by one party…

Q: GST was first introduced in which country ?

A: GST was introduced in many countries to reduce the tax evasion.

Q: I also need help with C and D

A: The advertisement cost is a sunk cost, and this is exceptionally prominent in the oligopoly market.…

Q: definition of products, goods and services

A: TO understand the definition of these terms, we need to understand that goods and products are used…

Q: Please answer full questions including fill in the blanks.

A: When an initial injection into a circular flow results in a larger ultimate rise in real national…

Q: How are the annual revenues and expenses estimated?

A: The annual revenue can be estimated by multiply the units of goods and services sold to the price…

Q: Please write more clearly.

A: Production function shows the relationship between the inputs used and output produced. The marginal…

Q: dccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc…

A: Your question is not visible.

Q: HOW TO DRAW A TABLE FORM

A: There are 4 possible ways in which the other player can act :- 1) always choose ‘C’ 2) He will…

Q: what are types of saving vehicles

A: Savings is the money left over after subtracting a person's consumption expenses from their…

Q: Please help with part D

A: A Pareto efficient allocation is one in which one party can be made better off only at the cost of…

Q: Could you answer parts D-F please?

A: Nash equilibrium given to us that: Q*1 = (0.5a - c1)/1.5b Q*2 = (0.5a - c2)/1.5b

Q: Evaluate safety and security affecting early childhood development in Jamaica. Use references.

A: Safety and security are fundamental aspects affecting early childhood development, as they provide…

Q: Could you please answer questions d and e.

A: Robert Solow created the Solow model, commonly referred to as the neoclassical growth model, in the…

Q: What are the various types of manufacturing costs?

A: There are 4 types of manufacturing cost : 1. Direct Material Cost  Direct Material Cost is a cost of…

Q: ramifications /effects for Employees moving from the UK to Germany?

A: The countries in the European Union can trade freely between labour, capital, goods and services.…

Q: paticipation rates

A: Participation rates refer to the number of people working in an economy. Participation rates measure…

Laffer Curve Analysis

In terms of economics, the Laffer curve was popular among those economists who were or who belonged to the supply side of the economic peripheral.  This concept was popularized by the famous supply-side economist known as Arthur Laffer. This curve illustrated the relationship between the tax rates and government revenue. It is already known that the tax which the public or individuals residing in an economy bear is the revenue or income of the government with the help of which the government does all the necessary works in the society, which is beneficial for the economy.