Evaluate the sales tax as progressive or regressive

Assignment Help Macroeconomics

Reference no: EM1371273

How much more output (income) per year will have to be produced in the world
(a) Just to provide the 2.7 billion "severely" poor population with $1 more output per day? $ _______
(b) To raise the incomes of the world's "severely poor" population (income less than $2 per day)
to the official threshold of U.S. poverty (roughly $5,000 per year per person)? $ ________

(a) Assuming a 10 percent sales tax is levied on all consumption, complete the following table:

Sales Percent of
Income Consumption Tax Income Paid in Taxes
$10,000 $12,000 ______ __________
20,000 18,000 ______ __________
40,000 32,000 _______ __________
80,000 60,000 ________ __________
(b) Is the sales tax progressive or regressive?

Reference no: EM1371273

Questions Cloud

Determining expected market price-profits : You're the manager of the firm that sells a commodity in market that resembles perfect competition, and your cost function is C(Q)=Q+2Q^2. Compute the expected market price.

From the e-activity and identify one firm that you think : From the e-Activity and identify one firm that you think would make a good strategic partner for the company you researched.

With what speed does rock impact the moon : For a spherical celestial object of radius R, acceleration due to gravity g at a distance x from the center of the object is g = g0R2/x2, where g0 is the acceleration due to gravity at the object's surface and x > R.

Write files which do not reside at root or master directory : Provide the example of names of three files from own computer that do not reside at the root or master directory. For each file, list both therelative filename and its complete filename.

Evaluate the sales tax as progressive or regressive : How much more output each year will have to be produced in the world

Find the initial speed of the stone : A model rocket rises with constant acceleration to a height of 3.8 , at which point its speed is 26 m/s How much time does it take for the rocket to reach this height.

Explain katrina is walking through a store drops her wallet : Explain Katrina is walking through a store when she accidentally drops her wallet. Katrina does not know that she has dropped it, categorize who has the best right to the wallet.

What is the magnitude and direction of the electric field : A rock of mass 33 kg accidentally breaks loose from the edge of a cliff and falls straight down. The magnitude of the air resistance that opposes its downward motion is 242 N. What is the magnitude of the acceleration of rock.

Improve performance : Prepare a paper in which you explain how you will use your team charter to improve performance, considering those individual differences,

User Account

All Pages