1. Calculate the per capita value for each situation to two decimal places.a)Number of new cars sold in Ontario in 2017: 312 000. Number of Ontario drivers: 1 200 00b) Gross federal government debt in 2017: $618 790 000 000.Canada's population: 33 100 00Gini Index for Ontario, 1995–20052. The graph shows the Gini Index for Ontario,50which is a measure between 0 and 100 of the45degree of inequality in the distribution of40.039.639 24037.738.2income. A Gini Index of close to 0 indicates39.139.239.435that most members of the population receiveclose to the same income. A Gini Index ofclose to 100 indicates that a few people inthe population receive most of the income.2520a) By what factor has the index changed from3 151995 to 2005?101994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006Yearb) What was the percent change in the GiniIndex from 1995 to 2004°3. A study stated that 85% of Canadian college graduates 22 to 24 years of age are employedwhile 80% of Canadian university graduates 22 to 24 years of age are employed. Does thisrepresent descriptive or inferential statistics? Explain.Gini Index for After-Tax Income

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Consider the following economy below in 2010 and 2020. Assume that the interest rate on the debt is 20%. What is the interest payment on the debt in 2010? a b C Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. d 200 300 400 Year 500 Nominal Debt Nominal GDP Price Level/GDP Deflator 2010 1000 4000 100 2020 2500 8000 150
Mrs. B is engaged in both sales of goods and sales of services. She incurred a total of P9,000 entertainment, amusement, and recreation expenses in 2018. She reported P300,000 in net sales and P700,000 in net revenues. Compute for the total deductible EAR.
5. Allocation of government expenditures Federal and local governments tax and spend. The following pie charts show the allocation of federal and local government expenditures in 2016. Interest 11% Federal All other 12% Health 30% O True O False Pensions and Income Security 33% National Defense 14% Highways 6.0% State and Local All other 31% Education 33% Health and Public Welfare (includes health and welfare and social services, not disability) 30% (Source: Bureau of Economic Analysis, "Government Current Expenditures by Function," National Income and Product Accounts Tables, www.bea.gov.) True or False: You can validly conclude from these pie charts that local governments do not spend enough on highways.
member? 31. INCOME TAX The accompanying table represents the 2007 federal income tax rate schedule for single taxpayers. a. Express an individual's income tax as a function of the taxable income x for 0 =xs 97,925 and draw the graph. b. The graph in part (a) should consist of four line segments. Compute the slope of each segment. What happens to these slopes as the taxable in- come increases? Interpret the slopes in practical terms. If the Taxable Income Is The Income Tax Is Of the Amount Over Over But Not Over $7.825 10% $7.825 $31.850 $783 + 15°. $7.825 $4.387 25%. / $31.850 $31.850 $64.250 $97.925 $12.487 28°. $64.250 $64.250
Consider the following economy below in 2010 and 2020. What is the debt-to-GDP ratio in 2020? Year 2010 2020 Nominal Debt 1000 2500 Nominal GDP 4000 8000 Price Level/GDP Deflator 100 150 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a 0.17 b 0.25 0.31 d 0.63
2. Calculating the debt to GDP ratio Suppose the following statistics characterize the financial health of the hypothetical economy Spendia at the end of 2017: • Gross domestic product (GDP) is equal to $100 billion. • The national debt is equal to $130 billion. • The government has a budget deficit of $7 billion. • The debt ceiling in Spendia is set at $148 billion. The following calculations help you see how the ratio of debt to GDP changes from one year to the next. Complete the first row of the following table by computing the ratio of national debt to GDP. Suppose that nominal GDP remains at $100 billion in 2018, and again the government runs a budget deficit of $7 billion. For simplicity, assume the interest rate on the national debt is 0%, and no payments are being made to reduce the debt. Calculate national debt and the debt-to-GDP ratio in 2018. Enter these values in the second row of the following table. Year 2017 2018 GDP National Debt (Billions of dollars) (Billions of…
4. Taxes paid for a given income level Antonio is getting ready to do his taxes. He is single and lives in Chicago. Antonio earned $110,000 in 2020. He reviews the following table, which shows the IRS tax rates for a single taxpayer in 2020. On Annual Taxable Income... Up to $9,875 From $9,875 to $40,125 From $40,125 to $85,525 From $85,525 to $163,300 From $163,300 to $207,500 From $207,500 to $518,400 The Tax Rate Is... (Percent) 10 12 Antonio calculates that he owes approximately 17 20 23 30 Based on the IRS table, Antonio calculates that his marginal tax rate is when his annual income is $110,000. ▼ in income taxes for 2020. Antonio then calculates that his average tax rate is approximately for 2020. ▼, based on the annual income level and the amount of taxes he owes After figuring out what he owes in taxes in 2020, Antonio decides to ask an accountant for tax advice. The accountant claims that he has found a legal way to shelter $3,000 of taxable income from the federal…
1. High incoime family. Income before tax: $500,000 tax rate 37% taxes paid $185,000 after tax income $315,000. 2. Middle income family. Income before tax: $50,000. tax rate 20% taxes paid 10,000 after tax income $40,000 3. Low income family. Income before tax: $20,000 tax rate 10% taxes paid $2,000 after tax income $18,000 Using the table, what is the ratio of a high-income family's income to a low-income family's income before and after taxes?
1
2. Jesse is buying a new car. The base price is $27,940. Jesse has a down payment of $3500. Extra charges $850 $495 Delivery charge Freight Federal air conditioning tax a. What is the total vehicle price before taxes? $100 b. What is the total amount that Jesse will need to pay after taxes? Remember that new vehicles need to pay both PST (6%) and GST (5%). c. What is the total price of the car after taxes and less the down payment? (This is the amount of the loan Jesse needs) d. Jesse pays for his new car with a personal loan from his bank. His loan is 5% over 3 years. How much interest will Jesse pay? (Use an online loan calculator to help you.) e. What is the total cost of the car? (Remember to include the down payment in the cost) f. What are some things that Jesse could do to reduce amount he pays at the end of the loan?
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
2. Income taxes The following table shows income tax rates in Econoland. Annual Income Tax Rate Up to $50,000 10% From $50,001 to $75,000 20% Over $75,000 30% This is an example of a income tax. Kevin, a resident of Econoland, currently works 20 hours a week and earns an annual income of $50,000. After paying income taxes, Kevin receives per year. If Kevin works an additional 10 hours a week (30 hours a week total), his annual income will be $75,000. After paying income taxes, Kevin will receive per year. In other words, by working an additional 10 hours per week, Kevin will receive an additional more than what he would If Kevin works 10 more hours in a week (40 hours a week total), his annual income will further increase to $100,000. After paying income taxes, Kevin per year. In other words, by working 10 more hours per week, Kevin will receive receive if he works only 30 hours a week. will receive As Kevin works more, the additional amount he receives from working 10 more hours .…

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1. Calculate the per capita value for each situation to two decimal places. a)Number of new cars sold in Ontario in 2017: 312 000. Number of Ontario drivers: 1 200 00/ b) Gross federal government debt in 2017: $618 790 000 000.Canada's population: 33 100 00