How tax affects welfare in an economy

CHINA UNIVERSITY SUMMER SCHOOL ASSOCIATION Intermediate Microeconomics (Econ 021) – Quiz 3   NAME OF STUDENT……………………………………………………………………………..   1. The graph below describes how tax affects welfare in an economy. Using the knowledge gained from this subject explain the graph and give the name of the area shaded C and E.   2. What are the… Continue reading How tax affects welfare in an economy

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How social planner deals with negative externalities

CHINA UNIVERSITY SUMMER SCHOOL ASSOCIATION Intermediate Microeconomics (Econ 021) – Quiz 4   NAME OF STUDENT…………………………………………………………………………….. 1. When does externality arise within the Economics of the Public sector? (a) Give 3 examples of negative and positive externalities (b) What are the effects of both negative and positive externalities on the market?   2. How can… Continue reading How social planner deals with negative externalities

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A Positive and normative statement

Explain the difference between a positive and normative statement. Give an example of each type of statement.   What is the difference between supply and demand as presented in the readings? Discuss a real-time example that you found doing outside research.   Do some additional research on your own on public goods. What are the… Continue reading A Positive and normative statement

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