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Consider the previous exercise and suppose that the introduction of social security induces the individuals to retire in period 2. So they receive no labor income in period 2.
a. What is the new optimal consumption in each period? How much do the consumers save? How does it compare with previous exercise? Explain.
b. Now building on this example, should the actual social security system lead to early retirement? Why or why not? What is the evidence on the impact of social security on the retirement decision in the United States and elsewhere?
Find the mean marginal tax rate for the population. How do these mean rates differ from the actual rates?
Based on these data, describe the relevant relationship between the price of a hamburger and the quantity consumers are willing to purchase, using a verbal statement, a numerical table, and a graph. Which model do you prefer and why?
If R and F both have 12 hours of labor that they can give to catching fish or goats, and R requires 1 hour to catch a fish and 2 hours to catch a goat, F requires 6 hours to catch a fish and 3 hours to catch a goat. They are able to trade at Pf=Pg..
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n a given day, once you subtract 8 hours for sleep, you effectively have 16 hours from which you can choose to work or enjoy leisure (that is to say, sleep doesn't count as leisure). You have a job that pays $20/hour and that is your only source o..
a firm in a purely competitive industry has a typical structure. the normal rate of profit in the economy is 5 %. this firm is earning $5.50 on every $50 invested by its founders. what is the percentage rate return ? is the firm earning an economi..
Is the paper well-organized, first presenting background information, then providing an overview of economic reasoning that is useful for understanding the issue at hand, then supporting the thesis by referring to economic reasoning and evidence, ..
What type of tax is your friend suggesting? What is its appeal?
If so, how? As the employee, is there anything you could do to realize a higher payoff?
Suppose Tom and Jennifer placed $5,000 into a savings account that paid an interest rate of 6 percent. If the inflation rate was 4 percent over the year, what was the ex post real interest rate return
Econ 4010-090 - How does the diagram now look like and what is Billie's marginal rate of substitution? Is Billie's marginal rate of substitution of coffee for tea decreasing?
The price of food is Px=Kshs. 200, and the price of clothing is Py=Kshs. 400. Find Eric's optimal consumption bundle.
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