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Suppose the average Social Security benefits in the nation are $14,000 per year. The number of Social Security pension recipients is currently 50 million. There are 150 million workers in the workforce this year and the average taxable wage per worker is $30,000 per year. a. Calculate the dependency ratio (the ratio of the number of retirees to the labor force). b. Calculate the average replacement rate (the ratio of Social Security pension benefits to average wage prior to retirement).c. Calculate the tax rate on wages necessary to pay Social Security benefits this year assuming the system is operating on a pay-as-you-go basis d. Suppose the number of retirees is expected to increase to 75 million in the next twenty years while the labor force is expected to increase to 160 million. Assuming nothing else changes, calculate the tax rate necessary to pay promised benefits on a pay-as-you-go basis. What can be done to lower this tax rate?
This is a point I find very confusing and very hard to justify to students. Depending on the books, one finds many different conventions regarding the sign of elasticities and marginal rate of substitution (MRS). Some define them taking absolute valu..
The marginal costs suffered by the monopolist when it supplies the first 10 units of its product are, respectively, 1, 2, 3, 5, 7, 9, 11, 14, 17 and 20 dollars per product unit. What is the value of the highest Total Producer's Surplus that the mo..
Suppose that a firm has only one variable input, labor, and firm output is zero when labor is zero. When the firm hires 6 workers the firm produces 90 units of output. Fixed costs of production are $6 and the variable cost per unit of labor is $10. T..
Suppose the government implements a policy that subsidizes business investment. Explain how will this affect the relationship between investment and the interest rate.
Assume that you borrow $15,000 for five years (annual payments) at a market rate of 5%. Assuming that inflation is 3.5%, what would the equivalent equal annual payment be in constant dollars?
elucidate how many units of fish could it now consume along with the 80 units of imported wheat.
The highway department expects the cost of maintenance for a piece of heavy construction equipment tp be $5000 in year , then increase to $5500 in year 2, and increase $500 annually till year 10. At interest rate 10% per year determine the present wo..
Describe the demand and marginal revenue curves faced by a firm in a purely competitive market. Are they different from those faced by a firm in oligopolistic competition? If so Why?
I am looking at about 50 companies over a five year period. I need a measure for total shareholder wealth that is relatively easy to compute.
Suppose that in an hour Chip can gather 8 pounds of fruit or 4 pounds of nuts. In an hour, Monk can gather 9 pounds of fruit or 3 pounds of nuts. Who should specialize in gathering nuts? Monk or Chip? both? or neither?
Elucidate the effect this policy would have on the nation's real risk-free interest rate, nominal interest rates, real and nominal GDP.
The initial cost of a pickup truck is $12,859 and will have a salvage value of $4,027 after five years. Maintenance is estimated to be a uniform gradient amount of $181 per year, with zero dollar for first year maintenance. The operation cost is esti..
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