margina i propenfity ij 0.5 AUTonomas conumptiin 200 governmentspeniaing is Jl0 intended invesmentis dil00 O caicuiare the spending mutiprier and tax muitiplier O caicuiare anduhongraphicaliy the equlibnum ovtpurand income wnen autonomous conrmption iv l l00 whanstmenem sncomeandatput? O what size andtype Of poncy roVid brng the e conomy bactto Anemployment ouPUA?

margina i propenfity ij 0.5 AUTonomas conumptiin 200 governmentspeniaing is Jl0 intended invesmentis dil00 O caicuiare the spending mutiprier and tax muitiplier O caicuiare anduhongraphicaliy the equlibnum ovtpurand income wnen autonomous conrmption iv l l00 whanstmenem sncomeandatput? O what size andtype Of poncy roVid brng the e conomy bactto Anemployment ouPUA?

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter3: Economic Decision Makers

Section: Chapter Questions

Problem 3.11P

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If inflation rises unexpectedly by 5, would a state government that had recently borrowed money to pay for a new highway benefit or lose?
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One day, Barry the Barber, Inc., collects $400 forhaircuts. Over this day, his equipment depreciates invalue by $50. Of the remaining $350, Barry sends $30to the government in sales taxes, takes home $220 inwages, and retains $100 in his business to add newequipment in the future. From the $220 that Barrytakes home, he pays $70 in income taxes. Based onthis information, compute Barry’s contribution to thefollowing measures of income.a. gross domestic productb. net national productc. national incomed. personal incomee. disposable personal income
Suppose you are a typical person in the U.S. economy.You pay 4 percent of your income in a state incometax and 15.3 percent of your labor earnings in federalpayroll taxes (employer and employee sharescombined). You also pay federal income taxes as inTable 2 (p. 228). How much tax of each type do youpay if you earn $30,000 a year? Taking all taxes intoaccount, what are your average and marginal tax rates?What happens to your tax bill and to your average andmarginal tax rates if your income rises to $60,000?
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C= 2000 + 0.5(Y-T)T= 200G= 400I= 500______________ 10. If government spending increases by $100, equilibrium outputincreases by:(A) $100. (B) $200. (C) $400. (D) $800.
Suppose you are a typical person in the U.S. economy. You pay 4 percent of yourincome in a state income tax and 15.3 percent of your labor earnings in federal payrolltaxes (employer and employee shares combined). You also pay federal income taxes asin Table 2. How much tax of each type do you pay if you earn $30,000 a year? Taking alltaxes into account, what are your average and marginal tax rates? What happens toyour tax bill and to your average and marginal tax rates if your income rises to$60,000?
The U.S. income tax is currently O progressive O proportional O regressive O proactive a tax.
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