Q1. When the income distribution gets very skewed‚ with a small number of people getting a large portion of the income‚ the taxation system can be used to redistribute some of the income so that the poor aren’t as poor and the rich aren’t as rich. Taxes can be used to redistribute some income to the poor. The government can use a progressive income tax. The definition of progressive tax is the taxing mechanism in which the taxing authority charges more taxes as the income of the taxpayer increases
Premium Tax Progressive tax Income tax
Karynn Ortiz Week 2 HW Chapter 3. Problem 2 Consider an economy in which taxes‚ planned investment‚ government spending on goods and services‚ and net exports are autonomous‚ but consumption and planned investment change as the interest rate changes. You are given the following information concerning autonomous consumption‚ the magical propensity to consume‚ planned investment‚ government purchases and goods and services‚ and net exports. Ca =1500-10r c=0.6 T=1800 Ip=2400-50r G=2000
Premium Money supply Macroeconomics Marginal propensity to consume
Bill owns 3 acres of beautiful wooded land. When Bill decides to move to be closer to his grandchildren‚ he donates the land to the state with the understanding that the land will be used as a state park. This state park is large enough that it is not congested. It is an example of a good that is neither rival in consumption nor excludable. 9. You are the mayor of a small town with 2‚000 residents. The head of your economic development agency recently conducted a survey in which the 2‚000 residents
Premium Property Public good Tragedy of the commons
ECON 248 Assignment 2 1. The bank rate is the interest rate at which the Bank of Canada stands ready to lend reserves to chartered banks. The banker ’s deposit rate is the interest rate that the Bank of Canada pays banks on their deposits at the Bank of Canada. Changes to these rates by the Bank of Canada typically spread to other interest rates and therefore will influence the amount of lending done by the banks. An open market operation is the purchase or sale of government securities‚ which
Premium Monetary policy Inflation Central bank
ECON 100 – Principles of Economics Name: LaTonya Cooper January 31‚ 2011 Due: February 14‚ 2011 Your assignment is to do Exercises 1-8 on p. 14 of the textbook. Type your name at the top right of this paper. Type your answers after each problem. Answer as concisely as you can while still getting your point across. Save this document‚ with your answers‚ on your computer. Rename it‚ if you like‚ to something that makes sense to you. Then upload it to Moodle in the slot for Homework 1
Premium Economics English-language films Unemployment
Spring 2013 Econ 471 Prof. Bee-Yan Roberts COVER PAGE TO PROBLEM SET #1 Printed Name: While you are permitted to work together as a group‚ you must write out the answers on your own (preferably in a separate room) without any help from those in the group. Problem sets with similar answers in any question will receive a grade of zero. I have not received any help and I have not provided help to other students in writing up the answers to this problem
Premium Gini coefficient Poverty Lorenz curve
Econ 110 (L3) Midterm Exam Spring‚ 2007 Part I: Multiple Choice Questions – 50% Part II: Essay Questions – 50% Question 1 (15%) a) A professor would prefer to have all students attending lectures and have all question answered in class‚ than to give extra office hours to answer those questions raised by individual students. Explain his rationale based on economic theory you have learned. MC of lecturing an extra student is almost 0 during usual lecture hours but would be much higher
Premium Economics University Education
Economics is known as the study of scarcity. Scarcity is the fundamental economic problem of having seemingly unlimited human needs and wants‚ in a world of limited resources. To minimize scarcity we need to make choices‚ this is where the five e’s of efficiency come in to play. Economic growth is the increase in the ability to produce new resources. This is caused by having more resources‚ better resources‚ and having better technology. To achieve maximum satisfaction we need to use our existing
Free Economics Maxima and minima Unemployment
Ethiopia as a Less Developed Country By: Danielle McGrady i. Ethiopia According to the United Nations Economic and Social Council‚ Ethiopia is considered one of the forty-eight least developed countries (LDC). The list of LDC are looked over every three years and this list was recently updated in March 2012. To be considered a least developed country‚ the Committee for Development takes into consideration these three factors: “ (A.) A per capita income criterion‚ based on a
Free Poverty Economic growth Population
THE INFORMATION BELOW IS THE FORMAT IN WHICH THE SCHOOL BASED ASSESMENT FOR ECONOMICS MUST BE DONE. Report Use American Psychological Association (APA) style 1. 12 font 2. Times New Roman 3. 1.5 space between lines 4. Number the pages - top right hand corner After you have been advised that your report has met the required criteria‚ and you have made ALL corrections‚ place the pages in a soft folder with a transparent cover. The pages must be punched and secured in the folder. An alternative
Premium Qualitative research Data analysis Scientific method