- For the situation under consideration I have decided to go ahead with the most popular form of taxations i.e. income tax Answer
- In an ideal economy like any major developed nation
- What other types of tax can the government use to increase revenues? Answer
- The tax that is levied by the government on any superfluous good and on anything
- Comparative advantage
- Demand, supply, and equilibrium wage rates of labor
- Deadweight welfare loss
- Real GDP and economic growth
- The article focuses on harmful economic effects, but also mentions some positive aspects. What are they? Does moral hazard apply to unions? Why or why not?
- Compute the quantity sold and elasticity at a price of both $1 and $2 with the given advertising budget. Answer
- Robinson plastics makes clear plastic products. They invented a new cup to crush medication. A survey of local drug manufacturers and retailers suggests that market demand for the next year will be:
- What is the advertising elasticity at $2? Given an interpretation of the advertising coefficient.
- A consumer must spend all of her income on two goods (x and y). In each of the following scenarios, indicate whether the equilibrium consumption of goods x and y will increase or decrease. Assume good x is an inferior good and good y is a normal good.
- income doubles.
- income quadruples and all prices double.
- income and all prices quadruple.
- income is halved and all prices double.
monopoly, Competitive equilibrium taxes Answer
|c)What is the value of the tax revenue? What is the value of the DWL created by this tax?
- calculate your own tax freedom day by jotting down the taxes you in a year. express the number as a percentage of your annual income and then find the number of days as a percentage of 365 , that this amount of tax represents.
- discuss and post your tax freedom day after all of your tax per year.
- what is your date for paying only your personal income taxes? how many more days must you add for paying social security taxes?
- What is the impact of a tax cut in an economy operating under a flexible exchange rate regime on household spending, interest rates, investment spending, the current and capital accounts and the exchange rate. How will the central bank respond if it is targeting inflation? Will the central bank response offset or reinforce the impacts of the tax cut?
- How will the central bank respond in order to maintain the fixed exchange rate? Will the central bank response offset or reinforce the impacts of the tax cut?