Kindly give me the steps one by one how to do its and the calculation of the answers Question 2The table below shows the calculation of national income for country Z.ItemsWages and salariesRM (million)400Wholesale and retail200Income from rent, dividend and interest150Profit250Transfer payment50Construction100Corporate tax60Capital ConsumptionBanking and insuranceMining and gasPrivate InvestmentPersonal Income TaxEmployees Provident FundNet factor income abroad404001009001060700Based on the data given above:a) Calculate the value of GDP using income the approach.

Calculating GDP using Income approach: By income approach, we obtain NDPFC NDPFC = (Compensation of…

Answered: Question 2 The table below shows the…

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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Suppose an individual decreases their consumption in a year, resulting in more saving for and consumption in the next year. In a taxation system that taxes consumption but not interest income, what will happen to this individual's present value ilfetime tax burden? Ot will Increase. It will decrease. OIt will stay the same.
learn-us-east-1-prod-fleet01-xythos.content.blackboardcdn.com Bb https://.. a SD Bb Bb Bb 1. From the time of George Washington's presidency to the present, the percentage of the average American's income that goes to pay taxes A. has decreased from about 20 percent to about 10 percent. has decreased from about 50 percent to about 25 percent. C. has remained constant at about 10 percent. D. has risen from less than 2 percent to above 45 percent. Е. В. has risen from less than 5 percent to above 25 percent. 2. According to the textbook, which of the following statements is (are) correct for the United States? (x) The individual income tax and the payroll tax are the two largest sources of revenue for the U.S. federal government. (y) Corporate income taxes and excise taxes make up more than 30 percent of the tax revenue for the U.S. federal government. (z) In general, the two most important taxes for state and local governments in the U.S are sales taxes and property taxes. А. (x), (y)…
Using the following equation calculate the equilibrium income C=100 + 0.5Y G-500 1-600 Export=60 Imports =75 Select one: 0a None of the above O6 2430 Cc 1215. d. 2370
a greatera smallerdecrease in government spendingdecrease in net taxesincrease in government spendingincrease in net taxesnono change in government spendingno change in net taxes
Use the 2019 U.S. federal tax rates in the table to calculate answers to the questions below. Give all answers to two decimals. V Taxable Income $0-$9,700 $9,701-$39,475 $39,476-$84,200 $84,201-160,725 $160,726-$204,100 $204,101-$510,300 Over $510,300 1st attempt Tax rate 10% 222335 12 24 37 See Hin
Agricultural price supports result in governments holding large inventories of agricultural products. Why do you think the government cannot simply give the products away to poor people?
What is deflation?
Aa4. Why is it important to determine when income is derived and when an outgoing is incurred? Support your explanation with relevant legislation and case law.
Nimbus, Inc., makes brooms and then sells themdoor-to-door. Here is the relationship between thenumber of workers and Nimbus’s output during agiven day:Workers OutputMarginalProductTotalCostAverageTotalCostMarginalCost0 0 ____ ________ ____1 20 ____ ________ ____2 50 ____ ________ ____3 90 ____ ________ ____4 120 ____ ________ ____5 140 ____ ________ ____6 150 ____ ________ ____7 155 ____ ____a. Fill in the column of marginal products. Whatpattern do you see? How might you explain it?b. A worker costs $100 a day, and the firm has fixedcosts of $200. Use this information to fill in thecolumn for total cost.c. Fill in the column for average total cost. (Recallthat ATC T 5 C Q/ .) What pattern do you see?d. Now fill in the column for marginal cost.(Recall that MC TC 5 D ∆ / Q.) What patterndo you see?e. Compare the column for marginal productwith the column for marginal cost. Explain therelationship.f. Compare the column for average total costwith the column for marginal cost. Explain…
What is the effect of government purchased and taxation on the level of income?
Using the information provided on the income tax systems in two hypothetical countries, Country A and Country B, complete the following tables.Country ACountry BTaxable Income (Dollars) Tax Liability (Dollars) Taxable Income(Dollars) Tax Liability (Dollars )20,0002,000.0020, 000$2,00040, 00010, 000.0040,000 $4,00060,00024,000.0060, 000$6,000Complete the following table by deriving the marginal tax rates in the income ranges of $20,000 to $40,000 and $40,000 to $ 60,000 for each country.Taxable Income Range Country A Marginal Tax Rate Country B Marginal Tax Rate( Dollars)(Percent)(Percent) 20,000 to 40,00040,000 to 60,000Complete the following table by deriving the average tax rates at each income level for each country.Taxable Income (Dollars)(Percent) Country A Average Tax Rate Country B Average Tax Rate(Percent )20,00040, 00060,000
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