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- The calculation used by social security to calculate retirement benefits is meant to replace ______________ preretirement income for low-income retirees than high-income retirees.What is deflation?RM2. Why is it more efficient for the government to offer employment insurnace than for private insurance companies? Why is Canada accused of treating EI as an income transfer program instead of an insurnace program? What are the various methods commonly used to measure poverty? Hoe do they differ? Which method does Canada use?
- 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 recessionA provision included in group disability income contracts bul NOT included in an individual disability income contract is the: A.entire contract provision B.rehabilitation provision C.probationary period D.cost of living adjustmentAnswer the questions based on the data in the table. Round all answers to two places after the decimal. Earner Annual income amount Income tax amount Sally $90247.00 $29781.51 Steve $160249.00 $46472.21 Jamie $230251.00 $57562.75 Pat $300253.00 $72060.72 What is Sally's tax rate? % What is Pat's tax rate? %
- The following figure shows the relationship between employment and monthly salary in the periods 1968 to 1984. Copytight o Moraw Educaton. Permsson required for reproduction or dispiay. Employment Monthly Salary ($) 250,000 4,500 230,000 4,000 210,000 190,000 3,500 170,000 150,000 3,000 130,000 2,500 110,000 Wage 90,000 2,000 70,000 Employment 50,000 1,500 1968 1970 1972 1974 1976 1978 1980 1982 1984 Using the labour supply - labour demand model, how can you rationalize the comovement between employment and wage in the period 1968-1976 The labour demand curve shifts to the left There is no way to rationalize the data The labour demand curve shifts to the right The labour supply curve shifts to the right The labour supply curve shifts to the leftLabor Income, Tax Pald, and Average Tax Rate Individual Samantha Charles Amanda Young Labor Income (dollars) $45,000 60,000 80,000 105,000 Tax Paid (dollars) $100 100 100 100 Instructions: Round your answers to 2 decimal places. Average Tax Rate (percent) de dese % deOptimal unemployment insurance: Consider the following two proposals toreform unemployment insurance. Explain the arguments for and against eachreform.(a) Te insurance payment would be increased so that it replaced 100% of aworker’s regular labor income for 26 weeks.(b) Each worker would be paid a lump sum equal to 10 weeks of his or herlabor income at the start of the spell of unemployment. Tere would thenbe no other payments.