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- 3. Comparing salaries from different times Consider golfers who led the Professional Golfers' Association of America (PGA) in winnings at different points in time. Note that the winnings are nominal figures (unadjusted for inflation). To convert the original earnings of Nelson, Nicklaus, and Pavin, use the formula for converting dollar figures from an earlier era into year 2021 U.S. dollars. Using those figures, fill in the following table, making sure to round your responses to the nearest U.S. dollar. Nominal Winnings Year 1945 Byron Nelson 1973 Jack Nicklaus Corey Pavin 1991 2021 John Rahm Golfer True (Dollars) 63,336 308,362 979,430 7,705,933 False U.S. CPI (1983 = 100) 18 44.4 136.2 264.7 Winnings in 2021 Dollars True or False: According to the previous table, the golfer with the highest PGA winnings in nominal dollars is the same as the golfer with the highest PGA winnings after adjusting for inflation. 7,705,933Two years ago, Adrienne and William earned $90,450 and paid $10,854 in income tax. Last year, the couple earned $97,770 and paid $15,632 In Income tax. a. Which of the following statements is true regarding the tax payments? O The actual tax payment was higher last year and the couple's disposable income was smaller. O Both the actual tax payment and the tax rate were higher last year than in the previous year. The actual tax payment was higher last year, but the tax rates were the same. O The actual tax payment was higher last year, but the tax rates cannot be computed without more Information. b. This example illustrates O the stabilizing properties of the U.S. tax system. O increased Income requires new tax policy to prevent Inflation. O households with higher income pay a smaller percentage of their Income in taxes. O taxes are too high.Which of the following would ↑ the Qd of LF? Select one: O A. expected profit decreases. B. the real interest rate rises. O C. the real interest rate falls. D. the supply of loanable funds decreases. E. wealth increases. Clear my choice
- Suppose the number of higher-rate taxpayers in Botswana increased by one million, mainly driven by an increase in employment income. In the money market, this would be illustrated by which diagram? Interest rate interest rate L Quantity of money L Quantity of money a. [4] Interest rate Interest rate Į C Quantity of money 14 5 L₁ L Quantity of money7At the beginning of the year, Tom's LTD had a capital stock of 5 machines. During the year, Tom scrapped 2 old machines and purchased 3 new machines. Tom's gross investment for the year is O 2 machines. O 1 machine. O 6 machines. O 3 machines.
- 2. Compute Ay = f(x + dx) – f(x) and the differential dy = f'(x)dx for the following: %3D (a) f(x) = when x= 3, dx =-D (b) ƒ(x)= ln x when x= 1, dæ =A company has sold 5000 units of 100 dinars its own product at a price of per unit. If you know that the rent of the company's building for the specified financial period = 75,000 dinars, the wages of administrative staff = 50,000 dinars, and the cost of materials used in the production of the sold units = 15 dinars / unit, and the cost of work (wages of workers) in the production of units sold = 5 dinars/ unit, and the amount of depreciation for fixed assets for the financial period = 15000 dinars, and marketing expenses of units sold = 7 dinars / unit, the contribution margin per unit is? 77 73 82The output produced in bushels and the prices of this output ($/bushel) over the last three years for Seth Johnson, a farmer in Amarillo, Texas, are as follows: Year Output (bushels) Price ($/bushel) 2010 70,000 $3.20 2011 75,000 $2.90 2012 80,000 $3.50 Let the base year be 2011. What is the price index for 2012? Select one: O a. 1.094 O b. 0.829 O c. 1.207 O d. 0.914 e
- Interest rate (r) % Select one: O MRt O MRW MRX O MRy O MRZ 14 12 10 Inflation % 8 6 4 2 14 12 10 900 8 6 4 2 -MR₂ MRy MR PC MRW MRt VPC B IS Output Output Figure 8 The IS and MR curves At point A in Figure 8, inflation is above its target level, and the real interest rate as shown by the IS curve is 3%. The target level of inflation is achieved at the equilibrium point B. In order to move the economy to the target level the central bank must raise the interest rate to create a fall in aggregate demand. Figure 8 shows a range of possible monetary rule (MR) curves that vary with the central bank inflation preference. Under which monetary rule (MR) curve will the central bank initially hike up the real interest rate to 11% ?A dozen eggs cost $1.03 in December 1980 and $1.60 in December 2018. The average wage for workers in private industries was $7.13 per hour in December 1980 and $23.09 in December 2018. By what percentage did the price of a dozen eggs rise? 36% 55% 57% By what percentage did the wage rise? 32% 62% 224% In order to earn enough to buy a dozen eggs, a worker had to work _______ minutes in December 1980 and_________ minutes in December 2018. Workers' purchasing power in terms of eggs_________ between 1980 and 2018.If consumers spend of a change in their disposable income, then a tax increase of $100 would lower saving by $40. O 20 percent 40 percent O 60 percent O 80 percent 70 percent