Suppose that under TANF, your state provides an income guarantee of $2,000 and a benefit reduction rate of 50%. The typical recipient can work up to 2,000 hours per year at a wage of $10 per hour. (a) Find the threshold for leisure that individuals does not receive any benefit. (b) Suppose an individual spend 300 hour per year on work. What is the take home wage rate for this person? Question 6Answer a. 1600 hours and $10 per hour. b. 400 hours and $10 per hour. c 1600 hours and $5 per hour. d. 400 hours and $5 per hour.

Suppose that under TANF, your state provides an income guarantee of $2,000 and a benefit reduction rate of 50%. The typical recipient can work up to 2,000 hours per year at a wage of $10 per hour. (a) Find the threshold for leisure that individuals does not receive any benefit. (b) Suppose an individual spend 300 hour per year on work. What is the take home wage rate for this person? Question 6Answer a. 1600 hours and $10 per hour. b. 400 hours and $10 per hour. c 1600 hours and $5 per hour. d. 400 hours and $5 per hour.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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