Assume a world in which individuals live forever. There are three choices of schools: high school, associate degree (e. g., community college), and college degree. An individual that goes only to high school needs no additional schooling (beyond high school) but only earns $35,000 per year. They can also choose to complete four years of college which involves a cost of $60,000 per year but leads to them earning $60,000 a year. They can also get an associates degree (from a community college) at a cost of $15,000 per year and will earn $42,000 with that degree. Suppose that is distributed between 0 and 1. Find the sets of people in terms of who attend each type of school. (i. e., find the value of for individuals who go to high schoool, community college and college)

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u.s. parent on bank deposits held in london d. interest received by a u.s. parent on a loan to a subsidiary in mexico e. principal repayment received by u.s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u.s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation

The prebisch–singer hypothesis concludes that: a. technology lowers the cost of manufactured products, so developing countries should see an increase in their terms of trade. b. developing countries experience a long-run decline in their terms of trade, as the demand for primary products in higher-income countries declines relative to their demand for manufactured goods. c. because of unfair trading practices, labor in developing countries is exploited. d. opec has been responsible for a slowdown in the world's standard of living.

Which of the following is not an example of one of the four mail advantages of prices on a free market economy