Consider the following hypothetical tax schedule, expressed in nominal terms, for the tax year 2021-22. Assuming the CPI is 100 in 2021-22 and 125 in 2022-23, but the government does not adjust the tax schedule for tax year 2022-23, what is the average tax rate in 2022-23 for a household earning $48,000 in 2021-22, assuming their nominal income goes up with inflation? 15% 10% 9.1% 8.6% 7.7%

Q: 132.) You decide to lend your sister, who has never defaulted on a loan (ie. ρd =0), $1000 for one…

A: Real interest rate can be calculated by using the following formula.

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A: The price of a market basket of goods and services is $2,000 in the base period, $2,060 one year…

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A: The inflation rate refers to the pace at which the prices of goods and services within an economy…

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Q: consumer price index

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A: Given, Nominal interest rate = 10% Tax rate = 28% Inflation rate = 6%

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A: Since you have not mentioned which question have to answer. So, I am answering question “a1”.

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