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Rich family before tax 500,000. tax rate 30%. middle class before tax 50000. 20% tax rate. poor family 20000. 2% tax rate. what is the ratio of rich's family's income to the poor family's income before tax and after tax? is this tax progressive?
Business Economics, Economics
First two questions, Demand: Q d = 175-.5*P Supply:Q S = 1.923*P - 163.462 There is a $50 unit tax on the supplier side. what is the new equilibrium price? I know the new price is 179, looking for the formula explainin ...
According to the Law of Diminishing Marginal Utility, the consumer will receive less satisfaction when they consume additional units of goods and services. Explain 3 ways how the firm can influence the consumer purchasin ...
Question: Consider an exchange economy with two prominent leaders: Romney and Bernanke. Each get utility from destroying jobs, J; and from power, P. Their utility functions are: URomney = ln(P) + 2 ln(J) UBernanke = 2ln( ...
Test the following hypotheses of the difference in population means by using the following data (α = .10) H0: µ1- µ2=0, Ha: µ1- µ2 Sample 1 : X=51.3 σ2=52 n=31; Sample 2: X=53.2 σ2=60 n=32 Use the critical value method t ...
All of the following are examples of positive statements EXCEPT: Higher interest rates reduce construction activity. Higher interest rates are achieved by slowing the growth of the money supply. Economic output should no ...
A standard deck of cards contains 52 cards. (a) Compute the probability of randomly selecting a three or ten. (b) Compute the probability of randomly selecting a three or ten or two. (c) Compute the probability of random ...
A firm produces Product A and Product B. This years sales price of Product A have decreased tremendously, and the sale of Product B has increase by 10 percent. The firm has threeemployees that can produce Product A and f ...
A survey of a random sample of 1000 smartphone owners found that the mean daily time spent communicating on a smartphone was 131.4 minutes. From previous studies, it is assumed that the population standard deviation is 2 ...
What is the fraction defective if material hardness is normally distributed with a mean of 42 and a standard deviation of 1 and the specification limits for hardness are from 35 to 45? What value for the process mean wil ...
A $600 investment has the following payoff frequency: a quarter of the time it will be $0; three quarters of the time it will pay off $1000. Its standard deviation and value at risk respectively are(show work).
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