Explain possible errors in the following statistical representations: Aggregate income, by source Government employee pensions 6% Private pensions 3% Asset income 15% Other 16% 1962 Social Security /30% Earnings 28% Source: Social Security Advisory Board Left scale represents tax revenues as a percentage of GDP. Bottom scale represents central government corporate tax rates. 10.0% 8.0 6.0- 4.0 2.0 Zo UA.E. - eland Norway Australia Luxembourg Canada Iceland U.K. they can se any POSITIVE of real num Germany Laffer Curve France U.S. * 0.0 0.0% 5 10 15 20 25 30 35 40 45 50 Sources: OECD Revenue Statistics, Kevin Hassett, American Enterprise Institute

Explain possible errors in the following statistical representations: Aggregate income, by source Government employee pensions 6% Private pensions 3% Asset income 15% Other 16% 1962 Social Security /30% Earnings 28% Source: Social Security Advisory Board Left scale represents tax revenues as a percentage of GDP. Bottom scale represents central government corporate tax rates. 10.0% 8.0 6.0- 4.0 2.0 Zo UA.E. - eland Norway Australia Luxembourg Canada Iceland U.K. they can se any POSITIVE of real num Germany Laffer Curve France U.S. * 0.0 0.0% 5 10 15 20 25 30 35 40 45 50 Sources: OECD Revenue Statistics, Kevin Hassett, American Enterprise Institute

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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6. Who should pay the tax? The following graph gives the labor market for laboratory aides in the imaginary country of Paideia. The equilibrium hourly wage is $10, and the equilibrium number of laboratory aides is 250. Suppose the federal government of Paidela has decided to institute an hourly payroll tax of $4 on laboratory aldes and wants to determine whether the tax should be levied on the workers, the employers, or both (in such a way that half the tax is collected from each party). Use the graph input tool to evaluate these three proposals. Entering a number into the Tax Levied on Employers field (initially set at zero dollars per hour) shifts the demand curve down by the amount you enter, and entering a number into the Tax Levied on Workers field (initially set at zer dollars per hour) shifts the supply curve up by the amount you enter. To determine the before-tax wage for each tax proposal, adjust the amount in the Wage field until the quantity of labor supplied equals the…
Let's say that we have the following data ona country: Compensation of Employees.. $5,500 Rental Income. $2,000 Net Interest Income. $1,000 Profits (Total. $3,000 Capital Consumption Allowance (depreciation)...$1,000 Indirect Business Taxes (IBT). .$500 Value of all intermediate products.. $1,000 Gross Investment.. $1,200 Which of the following statements is correct? O The country's GDP is $13,000 and the country's NDP is $12,000. O The country's GNP is $12,000 and the country's NNP is $11,500. All of the listed options are inaccurate. O We do not have enough data to determine GNP and NNP. O The country's GNP is $13.000 and the country's NNP is $12.000. O The country's GNP is $13,500 and the country's NNP is $14,500.
The following graph approximates business cycles in the United States from the first quarter of 1955 to the third quarter of 1959. The vertical blue bar coincides with periods of 6 or more months of declining real gross domestic product (real GDP). 2800 REAL GOP (Billions of dollars) N 2700 2000 2500 2400 1055 1906 1967 True YEAR False Source: "Current-dollar and Real GDP Bureau of Economics Analysis, last modified May 1, 13, accessed May 15, 13, http://www.bea.gov/national/xl/gdple.al 1958 Notice that real GDP trends upward over time but experiences ups and downs in the short run. These short-run fluctuations in real GDP are often referred to as 1959 True or False: Short-term fluctuations in real GDP are irregular and unpredictable. Car sales increased. Consumer spending increased. Total real income declined. The unemployment rate increased. Which of the following probably occurred as the U.S. economy experienced declining real GDP in 19577 Check all that apply.
Question 32 Which of the following is included in net government income? social security benefits taxes factor income all of the above none of the above
Which of these tax systems does not conform to the idea of vertical equity? a. GST. b. A flat tax where every dollar of income is taxed at 25 percent. c. A poll tax (e.g. where every taxpayer pays $10,000 in tax). d. A progressive tax system. Which one of the following defines the unemployment rate? a. (number on unemployment benefit) / (labour force). b. (number of registered unemployed) / (working age population). c.(number of unemployed) / (working age population). d. D.(number of unemployed) / (labour force).
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National income is calculated using all of the following except Wages Rent Government purchases Corporate profits Proprietor's income
HDI vs GNI formula to create scatterplot
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.
GDP accounting excludes (production,nonproduction) ______________ transactions. Theseinclude (financial, nonfinancial) ______________transactions such as publicor private transfer payments or the sale of securities,and (first-, second-) ______________ hand sales.
I’m having trouble answers these two questions because I understand them I just need the formula to answer! Thank you, need answer for I) and II).
National income accounting can best be characterized as: Group of answer choices a microeconomic model of the economy used by the Federal Reserve bank. a method for comparing different political systems. a standardized economic report authored by politicians. a statistical measure of the income received by consumers as opposed to businesses. a set of rules used to summarize economic activity over a given period of time.