CHOOSE ONE OF THE FOLLOWING OPTIONS TO WRITE ABOUT:<\/p>\n

<\/p>\n

<\/p>\n

Write a short (250 word minimum) essay on one of the following topics:<\/span><\/p>\n

Option A<\/p>\n

FICA taxes are intended to be split evenly between the worker and the employer. Based on what you know of tax incidence:<\/p>\n

\n
• Do you expect the tax to be split evenly?<\/li>\n
• If not, who will pay more: workers or employers?<\/li>\n
• Explain your answers above.<\/li>\n
• How can employers make workers effectively pay more of the FICA tax if the tax rate is set by law?<\/li>\n
• Is there any way to change the distribution of the tax? Explain.<\/li>\n<\/ul>\n

  Option B<\/p>\n

  You are the proprietor of a small convenience store in a small town. A tropical storm is expected to hit your community tomorrow. This storm will knock out power for a few days and will cause transportation problems, so no new goods will be shipped into the country. You currently have the following goods in stock:<\/p>\n

  \n
  1. Milk<\/li>\n
  2. Batteries<\/li>\n
  3. Magazines<\/li>\n
  4. Beer<\/li>\n
  5. Candy<\/li>\n
  6. Towels<\/li>\n
  7. Frozen snacks<\/li>\n
  8. Bags of ice<\/li>\n<\/ol>\n

     In your essay, answer the following:<\/p>\n

     \n
     • Do you expect demand to increase for any of the goods you have in stock? Explain which, if any, and why.(Refer to the determinants of demand from chapter 4)<\/li>\n
     • Which goods do you expect to have a lower elasticity of demand, and which do you expect to have a higher elasticity of demand? Explain your answers. (Refer to the determinants of elasticity from chapter 5)<\/li>\n
     • Will you raise prices on some or all of these goods? If so, which ones? Explain your answers.<\/li>\n
     • How do your answers regarding demand affect your pricing decisions?<\/li>\n
     • How do your answers regarding demand affect your pricing decisions?<\/li>\n
     • Will your pricing decisions increase or decrease market efficiency? Explain.<\/li>\n
     • Are your pricing decisions fair? (This is a purely subjective question.) Does fairness enter into your decision making? Explain how and why.<\/li>\n
     • <\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

       CHOOSE ONE OF THE FOLLOWING OPTIONS TO WRITE ABOUT: Write a short (250 word minimum) essay on one of the following topics: Option A FICA taxes are intended to be split evenly between the worker and the employer. Based on what you know of tax incidence: Do you expect the tax to be split evenly? […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_joinchat":[]},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/153895"}],"collection":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/comments?post=153895"}],"version-history":[{"count":0,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/153895\/revisions"}],"wp:attachment":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/media?parent=153895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/categories?post=153895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/tags?post=153895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}