3 Income Taxation As part of Budget 2018, the Government of Canada introduced the Canada Workers Benefit (CWB) that will take affect starting on January 1, 2019. The CWB is a tax credit that supplements the earnings of low-income workers. For a single individual with no children, the structure of the CWB in 2023 is as follows. . No credit for earnings less than or equal to $3,000 . A 27% credit on each dollar of income earned over $3,000 up to a maximum of $1,428 • The maximum credit is reduced by 15% for each dollar eared above $23.105

Economics Over the past decade, holiday gift cards have become increasingly popular at online retailers. Not long ago, online shoppers had to really hunt at most e-retailer' sites to purchase a gift card, but today it is easier to purchase gift cards online than at traditional retail outlets. Provide a comprehensive initial post answering the following questions: Do you think online gift cards are merely a fad? Explain carefully.

1. Understanding the implications of taxes on welfare The following graph represents the demand and supply for blinkies (an imaginary product). The black point (plus symbol) indicates the pre-tax equilibrium. Suppose the government has just decided to impose a tax on this market; the grey points (star symbol) indicate the after-tax scenario. PRICE (Dollars per blinkie) Demand Supply A 56.00 40.00 B DE 24.00 F QUANTITY (Blinkies) Complete the following table, given the information presented on the graph. Result Per-unit tax Value Price producers receive after tax Equilibrium quantity before tax (?) In the following table, indicate which areas on the previous graph correspond to each concept. Check all that apply. Concept Producer surplus before the tax is imposed Deadweight loss after the tax is imposed Consumer surplus after the tax is imposed A B C D E F ☐ ☐ ☐

A regressive tax is a tax for which people with lower incomes Group of answer choices pay a lower percentage of their incomes in tax than do people with higher incomes. pay a higher percentage of their incomes in tax than do people with higher incomes. pay the same percentage of their incomes in tax as do people with higher incomes. do not have to pay unless their incomes exceeds a certain amount.