Pros and cons of an economy of personal income tax

Assignment Help Business Economics

Reference no: EM131238827

What would be the pros and cons of an economy of personal income tax being fully substituted with a sales tax? Please explain why.What are the pros and cons of the government not being involved in the labor market (laissez-fair)?

Reference no: EM131238827

Questions Cloud

Measure effect of ice cream price on chocolate syrup sales : A local supermarket lowers the price of its vanilla ice cream from $3.50 per half gallon to $3. Vanilla ice cream unit sales increase by 20 percent. The store manager notices that the unit sales of chocolate syrup increase by 10 percent. What is the ..

Elasticity of supply-calculate the elasticity of supply : Elasticity of supply: Using the data below, answer the following questions: Close Substitutes Quantity Demanded Price Quantity Supplied. Write out the midpoint formula for elasticity of supply (formula only, no numbers): Use the data from above to ca..

Determine the percentage of time player a should play : The following payoff matrix gives the strategies and payoffs for Player A and Player B. Determine the percentage of time Player A should play the A1 strategy. Determine the percentage of time Player B should play the B2 strategy

What is the main reason for the low inflation rate : Which of the following questions would most likely to be a topic for a microeconomics class? what would be the impact on competition in the cell phone market if there had been an ATT takeover of T-mobile? what is the main reason for the low inflation..

Pros and cons of an economy of personal income tax : What would be the pros and cons of an economy of personal income tax being fully substituted with a sales tax? Please explain why.What are the pros and cons of the government not being involved in the labor market (laissez-fair)?

How many people were unemployed : The US labor force, population, and unemployment rate in January 2013 were as follows: Labor Force 155,825,000 Population 315,079,109 Unemployment rate 8.0% Based on these figures: How many people were unemployed? How many more jobs would be required..

Using numerical methods of descriptive statistics presented : The motion picture industry is a competitive business. More than 50 studios produce a total of 300 to 400 new motion pictures each year, and the financial success of each motion picture varies considerably. Prepare a report (see below) using the nume..

What is competitive equilibrium with and without the tax : In a perfectly competitive market for coal, consumers’ benefit function from consuming tons of coal , is given by B(Q)= -.25Q^2+240Q In addition, the coal producer has a cost function given by: ?C(Q) =.1Q^2 +2Q. Suppose the government imposes an ad v..

Function exhibit increasing or decreasing marginal utility : Consider the quadratic utility function U(x) = x 2 . (a) (1 points) Sketch the shape of this function in a figure analogous to Figure 4.1. (b) (1 point) Does this function exhibit increasing or decreasing marginal utility? (c) (1 point) Is this shape..

User Account

All Pages