Suppose a small egg to income tax rates 20% for all income up to $50,000 and 30% for any income earned above $50,000 suppose that the economy has a government budget for this year. You’re one of $70,900 and a total of five individuals earning the following income Carla 28,000 been 49,000 Jennifer $50,000 Donnie $75,000 Maria $110,000. In year one does the economy have a balance, budget, budget surplus or a budget deficit accompany a response with corresponding dollar amount

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Q: Answer please

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A: Answer; Option (a) 6 is correct answer

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A: We know that                           Budget Surplus = Total Expenditure < Total Receipts…

Q: 47. The federal government runs a budget surplus when Group of answer choices the economy is in a…

A: Budget surplus is the situation if excess reserves.

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A: The debt to GDP ratio is the ratio indicating the total debt and total GDP of the country. The debt…

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Q: The structural budget balance is The cyclical budget balance is

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Q: Give typing answer with explanation and conclusion

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Q: In Virginia, in 2019, if you made $10,000 a year in income, you paid $120 + 5% of excess over…

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Q: Comparing 2 fiscal policies, option 1 and 2, explain the positives and negatives from the chart…

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Q: How Reagan Would Fix economy Many Republicans look at Reagan's policies in the early 1680s and…

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A: Here we are given the income tax structure, using that we solve the given questions.

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Q: Table 12-10 On Taxable Income ... The Tax Rate is ... Up to $8,375 10% From $8,375 to $34,000 15…

A: Taxable income: It is the total income onto which a tax slab applies based on which an individual or…

Q: 5 Which one of the following statements regarding fiscal policy and the budget is correct?(a) When…

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Q: H7

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Q: The following calculations help you see how the ratio of debt to GDP changes from one year to the…

A:

Q: This table shows the U.S. federal income tax rates from 2015. (Source: Internal Revenue Service)…

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Q: 1. The federal budgetary process This table shows three stages in the federal budgetary process.…

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Q: The figure shows government expenditure and revenue as a percentage of GDP, 1990-2019. Durir which…

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Q: Suppose you earn $50,000 per year and pay taxes based on marginal tax rates. The first tax bracket,…

A: A tax is a payment made by citizens to the government in exchange for the services it offers.A tax…

Q: If line 18 is more than line 15, subtract line 15 from line 18. This is the amount you overpaid

A: Given the value of line 18 = 2875.84 The value of line 15 = 2651

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Q: Suppose that a family's income is exactly the same as the poverty threshold. This family's income…

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Q: S. Allocation of government expenditures Federal and local governments tax and spend. The following…

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Q: 5 In order to boost the economy, the government should implement expansionary fiscal policy by…

A: In order to boost the economy, the government should implement expansionary fiscal policy .

Q: s this tax progressive regressive or pronortional?

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Q: 3. Does it matter that increased government debt/GDP ratios place a higher tax burden on future…

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Q: Suppose in Fiscalville there is no tax on the first $10,000 of income, but a 20 percent tax on…

A: 0−10,000 = No tax    10,000 − 20,000 = 20%    20,000 − 30,000 = 30 %    > 30,000  = 40%