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Currently there are 2.9 workers for every retiree. Average salary is $50,000 and average benefits are $15,000. What is the average tax rate consistent with a pay-as-you-go system in equilibrium?
1. Based on the previous question. It is estimated that in 2030 there will be 2.1 workers supporting each retiree. Assume that the average wage will stay at $50,000 in 2030 and the government wants to keep the tax rate at the current level (calculated in question 3). What are average benefits consistent with those values? Suppose the government wants to keep the average benefit at the current level ($15,000), then what should be the tax rate to keep the system in equilibrium?
2. In her novel “Sense and Sensibility”, Jane Austen wrote, “If you observe, people always live forever when there is any annuity to be paid them.” Relate this quotation to the issue of adverse selection in annuity markets.
What are the principal arguments of pharma companies who oppose making exception to IPR laws for developing countries? What are the arguments by NGOs and others for a differential treatment?
Consider the following demand and supply relationships in the market for golf balls: Qd = 90 − 2P − 2T and Qs = −9 + 5P − 2.5R, where T is the price of titanium, a metal used to make golf clubs, and R is the price of rubber. a) If R = 2 and T = 10, c..
how does corporate sponsorship affect the demand for the sponsor's product? why have so many companies purchased naming rights rather than purchase time to broadcast commercials during football bowl games ?
Discuss a time when you have had to deal with a sensitive and/or a negative message like working in retail. What would you do differently in light of the material covered in this module? If you would do nothing differently, describe how your handling..
You put $20,000 on deposit on your 30th birthday at 5% compounded annually. On your 40th birthday, the account begins earning 6%. Then on your 50th birthday, it begins earning 7%. You plan to withdraw equal annual amounts on your 61st, 62nd, . . . , ..
looking backplease respond to the followingbull thinking about everything you have learned in this course discuss the
Indicate whether each of the following statements is true or false, and explain why. Producer surplus tends to fall as the supply curve becomes more elastic. Consumer surplus tends to rise as demand becomes more elastic.
q1. you bought two new cds with the last 30 in your checking account and your next payday is on monday. what is the
Just breaks even over the year as whole. a Wouldn't the restaurant do better by staying closed out of season. At what cost will it shut down, given that all its fixed costs are sunk.
Official intervention in the foreign exchange market does appear to be a useful policy when overshoots take place in fragile circumstances.What is an overhsoot? Explain the exact form of this official intervention to counteract a specific overshoot. ..
Greener Grass Company (GGC) competes with its main rival, Better Lawns and Gardens (BLG), in the supply and installation of in-ground lawn watering systems in the wealthy western suburbs of a major east-coast city. Last year, GGC’s price for the typi..
A large and fast growing suburb of Rochester is considering expanding the size of its community park system by purchasing over 500 acres of undeveloped land located near a current park site. Describe four different approaches to natural resource valu..
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