Refer to the following table when answering the following questions. Table: U.S. 2015-2018 Domestic Income ($ billions) Compensation of employees, paid Wages and salaries Supplements to wages and salaries Business taxes Business subsidies Net operating surplus Private enterprises Surplus of government enterprises ow Transcribed Text Supplements to wages and salaries Business taxes Business subsidies 3 Net operating surplus Private enterprises Surplus of government enterprises Source: U.S. Bureau of Economic Analysis 2015 2018 O $13.850 O $9,704 O $31.518 O $18.480 9.264 9.704 7,487 7,866 1.777 1.838 1,210 1,238 57 57 4.489 4,575 4,509 4,593 -20 1,777 1.838 1.210 1.238 57 57 4,489 4.575 4,509 4.593 Depreciation of fixed capital 2.745 2.831 -20 -19 From this data, total GDP in 2015 was about billion. -19

Refer to the following table when answering the following questions. Table: U.S. 2015-2018 Domestic Income ($ billions) Compensation of employees, paid Wages and salaries Supplements to wages and salaries Business taxes Business subsidies Net operating surplus Private enterprises Surplus of government enterprises ow Transcribed Text Supplements to wages and salaries Business taxes Business subsidies 3 Net operating surplus Private enterprises Surplus of government enterprises Source: U.S. Bureau of Economic Analysis 2015 2018 O $13.850 O $9,704 O $31.518 O $18.480 9.264 9.704 7,487 7,866 1.777 1.838 1,210 1,238 57 57 4.489 4,575 4,509 4,593 -20 1,777 1.838 1.210 1.238 57 57 4,489 4.575 4,509 4.593 Depreciation of fixed capital 2.745 2.831 -20 -19 From this data, total GDP in 2015 was about billion. -19

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose George made $20,000 last year and that he lives in the country of Harmony. The way Harmony levies income taxes, all citizens must pay 10 percent in taxes on their first $10,000 in earnings and then 50 percent in taxes on anything else they might earn. Given that George earned $20,000 last year, his marginal tax rate on the last dollar he earns will be rate for his entire income will be and his average tax O 10 percent; 50 percent O 50 percent; less than 50 percent O 10 percent; less than 50 percent O 50 percent; 50 percent
1
12- 12 - : “The document showing the income and expenses of the state together is called X.” In his statement, which of the following is most appropriate for X? a) national income B) Marginal revenue NS) purchasing power parity D) Budget TO) national income per capita
5 Morris a single taxpayer earns wages of $350,000. In tax year 2021 he also owns a sole proprietorship with $210,000 of income and $480,000 of allowed deductions ( 270,000 dollar loss). Boris has enough tax basis to cover the loss as and is considered at risk for the loss amount and he materially participates in the activity. What is the amount of excess business loss he will carry forward $10,000 $80,000 $260,000 $270,000