What are excise taxes and tariffs?

eferences

1. Here is our discussion starter.

” The technology is now developing so that road use can

be priced by computer. A computer in the surface of

the road picks up a signal from your car and automatically

charges you for the use of the road. How

would this affect bottlenecks and rush-hour

congestion?”

2. What are excise taxes and tariffs? How do they affect your household buying experience, your place of work or the effect on quantity restrictions on the market?

3. What is the law of Demand? Cite some examples. Distinguish some of the shifts in Demand from movements along the Demand curve?

4. What is the law of Supply? Cite some examples. Distinguish some of the shifts in Supply from the movements along the Supply curve?

5. What is the effect of the increased security measures imposed by the federal government on airplane fares and the volume of flights? Please show your answer with the use of graphs, if possible.

6. How do you measure a country’s GDP?

7. What are the main aspects that you should remember about GDP? Please explain and give some examples.

8. Explain at least one of the following concepts. Give the concept a real world application in your explanation

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