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The nation of Upstandia uses kroner for money and its tax code is such that a person making 100,000 kroner per year pays 40,000 kroner per year in income taxes; a person making 200,000 kroner per year pays 70,000 kroner per year in income taxes; and a person making 300,000 kroner per year pays 90,000 kroner per year in income taxes. Upstandia’s income tax system is a. Progressive. b. Regressive. c. Proportional.
Consider the Solow Growth Model with technology given by Y = zF(K, N) = zK^(1/2)N^(1/2) , savings rate= 0.2, and depreciation rate=0.1. Both population growth and technological growth are 0. (Note: lower case letters denote per capita variables e.g. ..
Can we say confidently whether good X is a normal good or an inferior good.
In the United States, corn is often used as an ingredient in animal feed for livestock. Why does an increase in the use of corn to make ethanol, an additive that is used in gasoline, raise the price of meat? Use supply and demand curves for the corn ..
q1. kieso company borrowed 710000 on a 120-day note at 14 percent interest. the money was borrowed for 45 days in 2011
Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium price, quantity and consumer surplus?
In Mexico in 1950, the richest 5% earned 40% of the income and the poorest 40% earned 14.3% of the income. In 1957, the richest 5% earned 37% of the income and the poorest 40% earned 11.3% of the income. In 1963, the richest 5% earned 28.8% of the in..
Consider a closed economy which can be characterized by the following equations: C = 400 + 0.8YD I = 600 + 0.1y- 1000r G = 300 T = 125 (M/P)d = 0.2Y-6000r (M/P)= 400 c. Determine the equilibrium values for real GDP (Y), the real interest rate (r), pr..
Why would Christians in the West be moved to embark on a dangerous journey to fight in the Holy Land after hearing Pope Urbans speech at Clermont?
q.you are the manager of a large automobile dealership who wants to learn more about the effectiveness of various
In the early 1990s, land prices plummeted in Japan, leading many bank borrowers to default on their loans. Stock prices also came down sharply, reducing the value of banks’ shareholdings. The net result was that most Japanese banks fell into severe f..
Which principle of tax equity-the benefit principle or the ability-to-pay principle-is in closest agreement with your personal idea of what is fair? Develop a "position statement" based on your response.
An increase in the labor force: Consider a onetime change in government policy that immediately and permanently increases the level of the labor force in an economy (such as a more generous immigration policy).
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