Ecn 441 - Study guides, Class notes & Summaries

ECN 441- Exam 2 Latest Update...

ECN 441- Midterm Exam 2023...

optimal fiscal federalism - The question of which activities should take place at which level of government. intergovernmental grants - Payments from one level of government to another. fiscal equalization - Policies by which the national government distributes grants to subnational governments in an effort to equalize differences in wealth. solves the problems of preference revelation and aggregation - Tiebout Formal Model lump-sum tax - A fixed taxation amount indepe...

ECN 441 WITH TEST QUESTIONS AND ANSWERS ...

ECN 441 STUDYGUIDE 2023...

3 assumption of the backyard production model - 1. constant returns to scale in exchange 2. no comparative advantage 3. constant returns to scale in production no cities, not better of clustering 3 assumptions of trading city - 1. increasing returns to scale in exchange 2. comparative advantage in cities 3. constant returns to scale in production cities will trade 3 assumptions of factory cities - 1. constant returns to scale in exchange 2. no comparative advantage ...

market - is a group of buyers and sellers of a particular good o r service competitive market - is a market in which there are many sellers andbuyers so that each has a negligible impact on the market price: sellersand buyers are price takers. Monopoly - is a market in which there is only one seller and the sellercontrols the price Oligopoly - is a market in which there are just few sellers and thesellers not always compete aggressively. monopolistic competitive - mark...

ECN441 EXAM 2023...