Question 4-2+3 Suppose that the government reduces taxes os consumers. A Graphically show the effect of this change in the Keyanian IS-LM-FE model. What happens to output in the short-run? B How can the central bank se monetary policy to return output to its full employment

The accompanying table lists the incomes of five citizens of a hypothetical economy. Suppose the government introduces a new program for low-wage carners. Under this program, cach citizen is given a refund that is paid for with tax revenues and is equal to a percentage of the citizen's income. The chart shows applicable income brackets and the percentage to be refunded. Citizen Income ($) Income Range ($) Income Supplement (% of Original) Frankie 27000.00 0-17,000 40% Vinnie 33000.00 17,001-36,000 25% Artie 15000.00 36,001-52,000 10% Nicky 62000.00 52,001 and above 0% Jackie 25000.00 What is the amount of Frankie's refund? What is the amount of Artie's refund? What is the amount of Nicky's refund? Which of the following is a problematic feature of a welfare state that is mitigated by the supplement's gradual decline? the implicit marginal tax inflation a revenue shortfall recession

What are the key taxes levied which can be collected by state, territory, and local government in Australia? How is GST revenue shared with the states and territories?

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