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Assume the Working Income Tax Benefit tops up a single individual's income by 25 percent of the amount that employment earnings exceed $3000, up to a maximum payment of $950. Suppose the refundable credit is reduced by 15 percent on the amount of earnings in excess of $10,500.
a. Then over what range of earnings is the credit at its maximum value?
b. At what income is the credit reduced to zero?
c. Let the statutory income tax be a flat rate of 30 percent, with a basic personal exemption of $10,000. Ignore all other taxes and program benefits in the economy. Calculate and explain the effective marginal tax rate (EMTR) faced by this individual on income ranging from zero to $20,000.
d. Discuss the incentive effects associated with this EMTR schedule, regarding the decision to join the workforce and to enhance hours worked, say, from part-time to full-time.
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3 voters, A, B, and C, will decide by majority rule whether to pass bills on issues X and Y. Every of the two issues will be voted on indiviually. The change in net profits (in dol
“In the presence of institutional constraints, the Theory of Second Best tells us to perform the welfare maximization problem to solve the Pareto Optimal conditions and then apply
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what are the costs and consequences of providing the subsidies and welfare?
Suppose the firm mark up over the cost is 10% and the wage setting equation is W=P (1-u) where U is the unemployment rate. a) Find out the real wage rate implied by the price se
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There is no doubt that the environment surrounding business organizations play an important role in influencing the decisions of those organizations and their strategic plans. That
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