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Greg earns $10 per hour for work for up to 30 hours of work each week. He is paid $15 dollars per hour for every hour in excess of 30. Greg faces a 15 percent tax rate and pays 3 dollars an hour in child-care expenses for each hour he works. Greg receives $40 in welfare a week .There are 168 hours in the week. Graph and fully label Greg’s non-linear budget constraint. When graphing the budget constraint, incorporate taxes and childcare expenses into his wage so that we are graphing his final wage.
Assume that your household gets a machine that cost Lesley provides you with food. Illustrate what would that do to your labor supply.
What will happen to equilibrium price of new textbooks if more students attend college, paper becomes cheaper, textbook authors accept lower royalties and fewer used textbooks are sold.
Calculate the value of the US Balance of Payments and indicate whether it is in a surplus, deficit, or equilibrium.
A major electronics manufacturer expects to generate additional revenue from its recently won government contract. The company forecasts that the revenue will be $190 million in the first year, but will decline by $2 million every year for the next 3..
On January 1 2015, your savings account will be worth $259,000. Every month thereafter, you make a cash contribution of $767 to the account. If the fund is expected to be worth $410,000 on January 1, 2020 what will the annual interest rate of interes..
q1. what does monumental architecture imply about the cultural values and the socio-economic-political organization of
There have been some discussions about the possibility of IRS applying only a flat tax rate in the future to every individual's income in order to calculate the individual's share of income tax.
Determine if the firm's mix of inputs is optimal. Explain. If your answer to "b" is no, what should the firm do to improve its performance? Explain.
q.a central bank finds itself in the following situation the national economy has been in a slump for several years but
Elucidate how does that fact that many goods are non traded affect the extent of possible gains from trade.
Periodic outlays for inventory control software at Baron Chemicals are expected to be $280,000 immediately, $280,000 in 1 year, and $200,000 in 2 years. What is the present worth of the costs at an interest rate of 3.92% per year, compounded continuo..
Is your answer consistent with illustrate what you would expect to find with the liquidity preference framework.
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