Reference no: EM132324734
Suppose that in a certain society $10,000 is the official cut-off of income for the poor. This means that any person making less than $10,000 is considered poor. Suppose further that there are three people in this society: Randy, Marlon, and Tito, with incomes of $9,900, $9,900, and $5,000, respectively.
a. How many people are in poverty?
b. How much income would it take, on average, to lift every poor person out of poverty?
c. What if some policy caused $200 to be taken from Tito and given to Randy? How many people are in poverty now? How much income would it take, on average, to lift every poor person out of poverty?
|
Emerging market economies in a country
: Please explain on how social, political, legal and even physical factors can act as trade barriers or opportunities in developing
|
|
Calculate the tax rate for person
: Assume that under the current tax system the rich pays $60,000 and the poor pays $1,200.
|
|
Prepare the stockholders equity section of the balance sheet
: Prepare the stockholders' equity section of the balance sheet in proper form for Waterway Corporation as of December 31, 2019.
|
|
Calculate the average rate and the marginal tax rate
: Individual deduction = $12,500. Calculate the average rate and the marginal tax rate for the following workers
|
|
Poor person out of poverty
: How many people are in poverty now? How much income would it take, on average, to lift every poor person out of poverty?
|
|
What is that number of hours
: After Jackie works a certain number of hours, she does not receive any benefits at all. What is that number of hours?
|
|
Role of copay on the number visits made
: Suppose that the quantity demanded of visits to a doctor per year is given by X = 12 - 0.05P, where X is the number of visits and P is the price the patient pay
|
|
Prepare journal entries for the purchase of treasury stock
: Rinehart Corporation purchased from its stockholders 5,600 shares of its own previously issued stock for$274,400.It later resold 1,625 shares for $52 per share.
|
|
What is the before-tax equilibrium price and quantity
: Suppose further that supply is P = 5 + 3Qs. Now suppose a $5 unit tax is imposed on consumers.
|