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- Please write a different answer there is an answer available for this on Bartleby already and tutors are copying and pasting that answer. but I need a new working from you 1. Consider an individual aged 64 who is eligible to collect full social security (public pension) benefits of $6,000 for a year. They have no other income but can work at a weekly wage rate of $600 for a maximum of 52 weeks. Receipt of benefits from the social security program is retirement tested. Specifically, the individual can earn up to $9,000 in annual wage income without a reduction in benefits; however, after $9,000 of earnings, benefits are reduced by 50% for every dollar earned, until the benefits are exhausted. a) Carefully draw and label the budget constraint for this individual. b) Suppose previously there was a retirement test, and then the test is eliminated, i.e., the individual now is allowed to keep all benefits, irrespective of their labour earnings. How would this affect the individual's…A college education will more than likely lead to a higher lifetime stream of earnings (all things being equal) for those who obtain one. True FalseIf older workers have a tax elasticity of labor supply equal to 0.25, by how much will their work activity decline when they reach the Social Security earnings test limit? (Recall that the Social Security earnings test limit is 50 percent. Assume explicit taxes of 20 percent below that limit. Use the midpoint method.) Instructions: Enter your response as a positive percent rounded to one decimal place. Do not include a negative sign (-) with your answer.
- In an economy:- NDPFC = $24,000 Million Operating surplus = $11,000 million Mixed income = $5500 million Calculate compensation of employeeshow to calculate and interpret the following elasticities : oElasticity of the cost of living with respect to the workforce oElasticity of the urban wage with respect to the size of the workforce oThe wage elasticity of labor supplyCarole works 35 hours a week at a wage rate of $20. Thus, her total weekly income is $700 On this income, she pays total taxes of $49.00 However, she calculates that on the last hour that she works, she pays $4.00 Carole's average tax rate is% (Round your response to two decimal places) Carole's marginal tax rate is% (Round your response to two decimal places) D
- A company has 350 employees who work 120 hours a month each. Each worker earns $21 per hour. There is a profitable project the company would like to start, but it would require an additional 21,000 working hours within three months to be completed, and all the employees are fully loaded with other projects. The company does not want to hire new staff; they would like the project to be completed by the current workforce instead.Given that the wage elasticity of labor supply is 0.8, calculate the hourly wage the company should offer its employees to encourage them to work on the new project. Use the midpoint method and round to two decimal places throughout your calculations.Jessie, a pharmacist, is planning on opening her own pharmacy. Jessie Pharmacy is expected to generate yearly revenue of $600,000. Jessie will run the pharmacy herself on full-time basis.Jessie’s alternative employment options are as follows:- Continue to work as a senior medical representative for $50,000 per year.- Accepts a research position in another company for $70,000 per year.Jessie expects to spend $350,000 per year on purchasing drugs and cosmetics for resale to her customers. She will also need to hire three employees: an assistant, an accountant and a custodian, for whom the total salaries to be paid are expected to be $48,000 per year. Jessie owns the building in which her pharmacy is supposed to be; however, she could rent out the pharmacystore space for $42,000 per year.Calculate Jessie’s accounting profit and economic profit. In your opinion, should Jessie proceed with opening her own pharmacy? Justify your answerHow does the average Waste Management annual salary compare with that of Switzerland as a whole country? A) Waste Management between CHF 11,000 and CHF 13,000 less than average B) Waste Management between CHF 9,000 and CHF 11,000 less than average C) Waste Management between CHF 7,000 and CHF 9,000 less than average D) Waste Management between CHF 5,000 and CHF 7,000 less than average E) Waste Management between CHF 3,000 and CHF 5,000 less than average
- For each of the proposals, use the previous graph to determine the new number of research assistants hired. Then compute the after-tax amount paid by employers (that is, the wage paid to workers plus any taxes collected from the employers) and the after-tax amount earned by research assistants (that is, the wage received by workers minus any taxes collected from the workers). Levied on Employers (Dollars per hour) 4 Tax Proposal 0 2 Levied on Workers (Dollars per hour) 0 4 2 Quantity Hired (Number of workers) After-Tax Wage Paid by Employers (Dollars per hour) O The proposal in which the entire tax is collected from workers O The proposal in which the tax is collected from each side evenly O The proposal in which the tax is collected from employers O None of the proposals is better than the others After-Tax Wage Received by Workers (Dollars per hour) Suppose the government doesn't want to discourage employers from hiring research assistants and, therefore, wants to minimize the share…the employee has worked. A typical case Luba works on commission and has a weekly pay period. One week, she was paid $150.00 in commission and worked 25 hours. The minimum wage applicable to Luba is $14.25 an hour. The minimum wage ($14.25) multiplied by the number of hours worked in the pay period (25) is $356.25. Luba is owed the difference between her commission pay ($150) and the required minimum wage ($356.25). Calculate: Luba's employer owes her $What is the best example of paid housework? the husband taking care of the lawn the wife doing all the laundry the child helping the mother with cooking a babysitter providing professional childcare service