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Suppose in the first five years of working for ABC Corporation Emily earns $50,000 a year after taxes, but ABC makes no yearly contribution toward a retirement plan for her. However, after five years ABC offers Emily a choice of receiving a $5,000 after-tax pay increase or a $5,000 tax-free yearly contribution to a retirement fund.
Explain and illustrate graphically (with budget lines and indifference curves) how Emily could be better off with the $5,000 after-tax pay increase than with the $5,000 tax-free contribution to her retirement fund. Also explain and illustrate with your graph how either form of additional compensation may leave Emily equally well off. (Hint/Suggestion: On your graph put dollars of after-tax income, which can be spent on other goods, on the vertical axis and dollars that can be applied toward retirement on the horizontal axis.)
What effect will a $30 billion decrease in autonomous investment have on total expenditures if the MPC is 0.9? What happens to the level of national income in an economy with an MPC of 0.8 and if autonomous consumption increases by $20 billion, auton..
Distinguish between an absolute advantage in trade and a comparative advantage. Explain why it is possible to have a comparative advantage in the production of a good, but not an absolute advantage.
The money supply in $1 trillion, the price level equals 2, and real GDP is $5 trillion in base-year dollars. What is the income velocity of money?
List out three problems of decentralized power that existed under the articles of Confederation . For Each problem you listed, identify one solution that the Constitution provided to adress the problem.
Suppose there are two consumers of a public good, Barbie (B) and Ken (K). Their demand curves for the good are given by: Graph Barbie’s demand curve. What is the slope? Graph Ken’s demand curve. What is the slope?
Define and explain the difference between normal goods and inferior goods. Provide two real world examples of each good from your own personal or professional life.
Jimmy's Clothing Store headquarters are in California whose corporate tax rate is 8.23% regardless of earnings. . The corporation expects its revenue in 2015 to be about $8,597,877. Base you answer on assuming that number wil be correct. Considering ..
A monopoly or oligopoly showing no economic profit or loss has
You bought a call option with a strike price of $35. What is your total payoff on this option contract if the underlying stock is selling for $36.70 on the option expiration date? You purchased a call option with a $22.50 strike price and a call prem..
Which of the following must be true in an economy with a government but with no foreign trade?
q1. a companys cash sales for the month are 200000 and its accounts receivable payments for the month are 100000. what
A price-taking firm selling in a market with a price greater than the firm’s average total cost should:
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