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Consider a person who can work up to 80 hours each week at a pre-tax wage of $20 per hour but faces a constant 25% payroll tax. Under these conditions, the worker maximizes her utility by choosing to work 40 hours each week. The government proposes a negative income tax whereby everyone is given $200 each week and anyone can supplement her income further by working. To pay for the negative income tax, the payroll tax rate will be increased to 50%.
(a) On a single graph, draw the worker’s original budget line and her budget line under the negative income tax.
(b) Show that the worker will choose to work fewer hours if the negative income tax is adopted.
(c) Will the worker’s utility be greater under the negative income tax?
Based on the following information, what is the balance on the current account? Exports of goods and services = $12 billion Imports of goods and services = $14 billion Net income on investments = -$4 billion Net transfers = -$1 billion Increase in fo..
Based on the following graph (which summarizes the demand, marginal revenue, and relevant costs for your product), determine your firm’s optimal price, output, and the resulting profits for each of the following scenarios: You charge the same unit pr..
q1. brian also kim own a business employing 8 workers to produce commemorative t-shirts for campus organizations also
You will need to review the activity resources and then research credit risk so you will better understand the benefits and detractors of credit risk, then respond to the questions listed:
Consider a small economy in which consumers buy only two goods pies and tarts. In order to compute the consumer price index for this economy for two or more consecutive years.
Estimate cost elasticity of demand for education at this university. Is cost elasticity of demand for university tuition elastic or inelastic according to answer in part (i) Why.
The United States has an absolute advantage in making many goods, such as short-sleeve cotton golf shirts. Why do Cost a Rica and Bangladesh make these shirts and export them to the United States?
Use the algebraic form of the aggregate demand curve to find the level of GDP that occurs when the money supply is $900 billion and government spending is $1200 billion. Repeat all the previous calculations if government spending increased to $1300 b..
Using the CSU Online Library and the unit reading assignment, explore the capital budgeting techniques covered in the unit, NP, PI, IRR, and Payback. Compare and contrast each of the techniques with an emphasis on comparative strengths and weaknesses..
Detail the collapse of the Soviet Union and of the international political system. Describe the dilemmas faced by international political relations scholars at that time as a result of these collapses. How this impact foreign policy did at that time,..
A supplier contract calls for a key dimension of a part to be between 1.96 and 2.04 centimetres. The supplier has determined that the standard deviation of its process, which is normally distributed, is .04 centimetre.
Complete the following table which summarizes the weekly sales and cost situation confronting a monopolist: Instructions: Enter your responses for total revenue, marginal revenue, and marginal cost as whole numbers. Enter your responses for average t..
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