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Suppose that all workers, male and female, have identical labor supply functions, which happen to be linear:
L = 100w(1-t)-700 for w(1-t) \geq 7
L = 0 for w(1-t)< 7
In which L is the number of hours a worker chooses to work (we assume that the worker is able to choose his or her own hours of work), w is the worker’s before-tax wage, and t is the (linear) tax rate.
Question:
a) Suppose that there are 100 workers in the country (50 women and 50 men), they are each paid $10 an hour, and the tax rate is 25%. What tax revenue is collected? What is the deadweight loss associated with the 25% tax on labor incomes?
b) As part of an initiative to encourage “family values,” the government decides to lower the tax rate on men to 20% while raising the tax rate on women to 30%. Please calculate the revenue raised by this new gender-differentiated system of taxing labor income. What deadweight loss is associated with the new tax system?
question suppose we can divide all the goods produced by an economy into two types consumption goods and capital
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The theory of purchasing power parity:
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i. perfect competitiona. fill in the table for the perfectly competitive firm. explain how you arrived at each numberb.
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