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Question: the us government announced a tax on imported leather at...

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The US government announced a tax on imported leather. At the same time, leather jackets have increased in popularity among teens and young-adult population. Given these events, the final effect in the leather jacket market would be:. And, the final effect on the market of leather would be: 7. 8. OPEC (Organization of the Petroleum Exporting Countries) announced it will decrease oil production by 20 percent in the near future. At the same time, Indias income increased from $3,400 per capita to $5,250 per capital last year, prompting a strong demand for cars and gasoline The final effect on the market of cars is:


9. Electric cars have been a flop. Why? First, they are expensive. Second, all cars have been getting greener. To boost the market of electric cars, the federal credit (subsidy) for electric cars changed from $7,500 to $10,000. Given these two events, what is the final effect on the market of hybrid cars? 10. In the U.S., the minimum federal wage was raised to $7.25 per hour in 2009. There was a proposal to increase it to $9 per hour in 2015. In some states, such as California, the minimum wage is already above $9. What would be the impact on the US labor force market? What would be the impact on the California labor force market?
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