Co=100 lo=90 Go=330 To=240 b=0,75 t=0,2 . What is the equilibrium level of income ? . What is the effect on of a $50 increase in government spending? C. What is the effect on of a $50 increase in autonomous taxation? d. If the full-employment level of income (Yfe) is 1000 and the government wishes to achieve it, by how much sh

Refer to the accompanying table for Waxwania.  Government Expenditures, G Tax Revenues, T Real GDP $190 100 $500 190 120 600 190 140 700 190 160 800 190 180 900 a. What is the marginal tax rate in Waxwania?  ____percent       --The average tax rate?  _____percent         b. Suppose Waxwania is producing $600 of real GDP, whereas the potential real GDP (or full-employment real GDP) is $700.-How large is its budget deficit? $____ -Its cyclically adjusted budget deficit? $____ -Its cyclically adjusted budget deficit as a percentage of potential real GDP?________ percent

If the poverty guideline for a family of four is $25,750, what is the income deficit if household income is $16,500? O $42,250 O $16,500 O $25,750 O $9,250 Unit 7- Chapter 1..xlsx 0Unit 7 Chapter 1..xlsx O Topic 2 (2).docx OTopic 2 (1).docx 11:07 PM 73°F "prt sc delete f12 Sus pua LL 10 144 61 I01 num -> backspace lock enter H. pause * shift W || N ctrl alt

ANSWER ALL 15 CORRECTLY SINCE YOU'RE JUST WRITING TRUE OR FALSE FOR EACH, THANKS Indicate True or False for all: 1. Under proportional taxation, as a person’s taxable income increases, the percentage of income paid in taxes increases. 2. With progressive taxation, a smaller percentage of taxable income is taken in taxes as taxable income increases. 3. For State and Local governments, key taxes are individual income taxes, corporate income taxes, Social Security taxes, and excise taxes on items such as gasoline and alcoholic beverages. 4. Only U.S. citizens who earn income in the United States are required to pay federal income taxes on all taxable income, including income earned abroad. 5. Corporate tax is the main source of government tax receipts. 6. The difference between the purchase price and sale price of an asset, such as a share of stock or a plot of land, is called a capital gain if it is a profit. 7. Tax brackets for the purposes of calculating marginal tax rates each year…

Suppose George made $20,000 last year and that he lives in the country of Harmony. The way Harmony levies income taxes, all citizens must pay 10 percent in taxes on their first $10,000 in earnings and then 50 percent in taxes on anything else they might earn. Given that George earned $20,000 last year, his marginal tax rate on the last dollar he earns will be rate for his entire income will be and his average tax O 10 percent; 50 percent O 50 percent; less than 50 percent O 10 percent; less than 50 percent O 50 percent; 50 percent

The percentage of an increase in income that is taxed is: O a regressive tax. O the marginal tax rate. O the average tax rate. O a flat tax.

QUESTION 14 Assuming that the "equilibrium income" is $4,000 and the "full-employment" income is $8,000, which means a recessionary gap of $4,000, how much tax cut is needed to fill the gap if MPC is 0.50? O $7,000 O $5,000 O $3,000 O $4,000

Suppose that the U.S. government decides to charge cola producers a tax. Before the tax, 30 billion cases of cola were sold every year at a price of $4 per case. After the tax, 23 billion cases of cola are sold every year; consumers pay $5 per case, and producers receive $2 per case (after paying the tax). The amount of the tax on a case of cola is $_________ per case. Of this amount, the burden that falls on consumers is $_________ per case, and the burden that falls on producers is $__________ per case.   True or False: The effect of the tax on the quantity sold would have been smaller if the tax had been levied on consumers.

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5. Study Questions and Problems #5 True or False: The marginal tax rate is calculated using additional income, while the average tax rate is calculated using total income. True O False