The table shows the distribution of market income.Suppose that the government redistributes income bytaxing the 60 percent of households with the highestmarket incomes 10 percent, then distributing the taxcollected as an equal benefit to the 40 percent with thelowest market income.If the people whose market incomes are taxed cut theirwork hours and their market incomes fall by 10 percent,what is the distribution of income after taxes and benefits?Complete the table to show the new distribution ofincome. (Ignore any cost of administrating theredistribution scheme.)>>> Answer to 1 decimal place.SearchHouseholdsLowest 20 percentSecond 20 percentThird 20 percentFourth 20 percentHighest 20 percentMarketincome(millionsof dollars)59203036Income aftertax and benef(percentage of tcincome after taand benefits)Next

Let us assume that total income of everyone is $100 which means lowest 20% earns $5, next 20% earns…

Households Lowest 20 percent Second 20 percent Third 20 percent Fourth 20 percent Highest 20 percent Market income (millions of dollars) 5 9 20 30 36 Income after tax and benef (percentage of tc income after ta and benefits)

Households Lowest 20 percent Second 20 percent Third 20 percent Fourth 20 percent Highest 20 percent Market income (millions of dollars) 5 9 20 30 36 Income after tax and benef (percentage of tc income after ta and benefits)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

10 Rate of Interest (%) 2 8 00 9 0 100 200 Amount of Money Demanded ($B) D1 OS D₁ D3 + D2 10 Rate of Interest (%) N 8 6 0 D2 11 100 200 300 400 Amount of Money Demanded ($B) 10 Rate of Interest (%) 2 8 9 Which one of the lines represents the asset demand for money? 0 S D3 100 200 300 400 500600 Amount of Money Demanded ($B)
Question 1 Use the numbers below for questions #1-3. Filing Status: Single Total Income: $73, 883 Income Adjustments: $0 Itemized Deductions: $14,239 What is the Adjusted Gross Income for this individual?
13) Property that is titled as “joint tenants” allows for: a. the property to pass outside of the probate process to a surviving joint ownerr b. tenants to remain in a leased property if the lessor dies. c. the decedent’s interest in the property to avoid inclusion in his or her estate for estate tax purposes. d. a distribution to the joint survivor that is recognized as taxable income.
What are the Annual benefits?
The two figures below show trends in poverty rates and inequality for the U.S. (a) What are the trends in poverty and inequality from 2010 to 2019? (b) Is it possible to reconcile these two trends? Explain. (c) Do the figures below give us any information regarding mobility? Explain.
Write any two precautions of income method
63
A copayment is a shared medical expense belween. A.a parent and child B.the insured and the medical insurance company C.the doctor and the palient D.the hospital and the doctor
What is the costliest local government service?
An accountant wants to find the average amount of taxes owed under the new tax laws. She plans to use only her clients who filed by March. What type of study would this be?
five concepts about living expenses and budgeting: Transportation Renting housing Buying housing The costs of owning a home Discretionary spending Which of these five concepts did you find the most challenging? Explain why.
Price of X = $2 Income $24 = Price of Y=$4 Qx TUX MUX MUx/Px Qy TUY MUY MUy/Py 1 24 24 2 46 24 24 12 1 40 040 10 2 72 3 20 20 3 100 4 A 9 4 5 dings 5 100 16 5 16 4 6 114 6 144 es The correct value for the blank labeled A is