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1. A mandatory health insurance plan costs $4,000. One worker earns $24,500 in employment income and $500 in investment income. Another worker earns $48,000 in employment income and $2,000 in investment income. A third worker earns $68,000 in employment income and $7,000 in investment income. A premium-based system would cost each worker $4,000. A wage tax–based system would cost each worker 8.5 percent of wages. An income tax–based system would cost each worker 8 percent of income. For each worker, calculate the cost of the insurance as a share of total income.
2. Which of the payment systems in Exercise 1.3 would impose the larger burden on those with incomes under $25,000: a plan financed via premiums, via the income tax, or via a payroll tax?
3. Which of the preceding questions can you answer using positive economics? For which of the preceding questions must you use normative economics?
Describe a situation in which there is an economic argument for regulation the quantity of pollution reduction in order to achieve reduced pollution levels rather than using a tax.
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Write a one page response to the following statement: "U.S. regulators should enforce antitrust laws against the Microsoft Corporation."
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Show how each of the following would initially affect a bank's assets and liabilities.
Suppose you contribute $10 per week ($520 per year) into an interest-bearing account that earns 6% a year (compounded once per year). That’s probably one less pizza per week! But if you contribute faithfully each week into this account, how much mone..
This year your income from only two years investment was $25,000 and you have to wait for one more year to earn $45,000 and another two years for taking $90,000. If the interest rate was fixed at 13.i ii % per year compounded continuously, how much d..
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