ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
Identify the following
1. It refers to the revenue and expenditure measures of the public budget
2. It intends to use large portion of the national resources for social services
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- Fiscal policy is defined as OA. the use of Congressional power to pursue social and political goals. B. the discretionary changing of government expenditures and/or taxes to achieve macroeconomic economic goal C. the design of a tax system to transfer income from large corporations to the poor. OD. the use of the taxing power of the government to redistribute wealth in a socially acceptable manner.arrow_forwardc. A progressive tax d. A regressive tax QUESTION 3 Corporate profits are a. taxed to pay for Medicare. b. exempt from taxes. c. included in payroll taxes. d. taxed twice, once as profit and once as dividends. QUESTION 4 A value-added tax or VAT is a tax on a. retail purchases only. b. pollution. c. all stages of production of a good. d. wholesale purchases only. QUESTION 5 Table 12-17 INCOME $50,000 100,000 200,000 AMOUNT OF TAX $12,500 (25%) $25,000 (25%) $50,000 (25%) TAX Aarrow_forwardIf the total budget expenditure is 6200 and the total budget receipts are 1300 find the budgetary deficitarrow_forward
- MACROECONOMICS Progressive Tax Based on your yearly income above, calculate the amount of tax each income bracket would pay under a progressive tax plan. Each row up to the total income amount should be filled in. For an example of a completed chart, go to Page 4 of Lesson 05.03: Sharing with Uncle Sam. Calculate the tax for $95,000. For example, $10,000x40%-%$4,000 in tax. Show your work!! Proposed Regressive Plan Calculate the tax for S25,000. For example, $10,000x40%=$4,000 in tax. Show your work!! 10% on income up to $25,000 20% on income between S25,000 and S34,000 25% on income between S34,000 and S44,000 30% on income between $44,000 and S80,000 40% on taxable income over S80,000 TOTAL TAX PAID (sum of all rows):arrow_forwardSales taxes tend to be regressive, that is why food, medicine are often excluded? True or Falsearrow_forward3. Question 3 options: Economic policies that involve government spending and taxes are known as .arrow_forward
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