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Discuss the following:
You heard a commentator on TV make the following pronouncement: It
is a clever idea for the government to impose a sales tax on a luxury
good, such as a yacht because the tax will affect the rich who can afford
to pay for it and the government will collect greater revenue. Do you
agree with the commentator? Why or why not? Use the concept of
elasticity of demand to explain your answer.
2.
Watch the following videos:
https://www.youtube.com/watch?v=slP8XZ6Nq40
https://www.youtube.com/watch?v=YOT8ryWzwbY
https://www.youtube.com/watch?v=Ngv0Be9NxAw
https://www.youtube.com/watch?v=6udRtn5jSWk
https://www.youtube.com/watch?v=Udltkvm9HLc
https://www.youtube.com/watch?v=Kf9KhwryQNE
https://www.youtube.com/watch?v=KbW6OiuRa1Y
https://www.youtube.com/watch?v=4-_-wQc3EGE&pbjreload=10
1
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