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Describe the short-run and long-run implications to the economic climate if the government does nothing in Canada
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- Describe the short-run and long-run implications to the economic climate if the government in Mexico does nothing.If the shift towards remote work for highly-compensated technology workers becomes permanent, what might the ramifications be for state and local government budgets?Describe some government intervention in the economy with the intent of controlling prices. Identify the parties who benefit and those who are or will be hurt by this intervention. What unintended consequences will likely or have occurred as a result of this intervention.
- Economists at which of the following government offices help formulate spending plans and regulatory policies?The economy of a hypothetical country has been stable for two or three years with very low unemployment. Wages have been gradually increasing during this time. Now stock market prices begin significant increases, causing peoples’ investments, such as their retirement accounts and other investments, to increase in value. People feel very good about the future and use their new-found wealth to buy things that they had been hesitant to purchase in the past. Include detailed answers to the following questions: 1. What would be the likely impact on the government budget and national debt of the use of these fiscal policy tools (taxes, government expenditure, transfer payments, and interest rates)? 2. How would the use of these fiscal policy tools stabilize the economy?Parliament is interested in financing the cost of their proposed childcare programme by imposing a payroll tax on workers. Some members of parliament are worried that workers will pay the entire burden of this payroll tax and propose for this tax to be imposed on firms. Address the concerns of the members of the Parliament in your report (100 words)
- “An increase in the income tax rate (fiscal policy) will have no impact on the level of output or prices in the long run.” True or False? ExplainQ65 Which of the following roles of the government is most fundamental to a society's ability to function safely and carry on normal economic and social life? a. Regulator of free markets. b. Holder of a monopoly of violence. c. Provider of health care. d. Provider of national parks. e. Provider of education. Clear my choiceExplain the instuments of Fiscal policy.
- A simultaneous increase in taxes and increase in government spending would result to the following:For the government to run efficiently, it must collect tax revenue from the people. What is the greatest source of revenue for the federal government? sales taxes income taxes tariffs property taxesOver the past few months, A Government has made several policy pronouncements aimed at restoring the fiscal health of The economy These policies include: Reduction of VAT from 12% to 10%; Increasing the minimum wage from $210 per week to $260 per week; and Introducing a broad range of price controls. Using the short-run supply and demand curves, please draw and explain the impact of each of these policy measures on the market. When combined, will the impact of these policies make the economy better or worse?
