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. 6. Who should pay the tax?The following graph gives the labor market for laboratory aides in the imaginary country of Episteme. The equilibrium hourly wage is $10, and theequilibrium number of laboratory aides is 150.Suppose the federal government of Episteme has decided to institute an hourly payroll tax of $4 on laboratory aides and wants to determine whetherthe 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 perhour) shifts the demand curve down by the amount you enter, and entering a number into the Tax Levied on Workers field (initially set at zero dollarsper 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 theWage field until the quantity of labor supplied equals the quantity of labor demanded. You will not be graded on any changes you make to this graph.Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly.WAGE (Dollars per hour)2018161412108420030SupplyDemand60 90 120 150 180 210 240 270 300LABOR (Number of workers)Graph Input ToolMarket for Laboratory AidesWage(Dollars per hour)Labor Demanded(Number of workers)Demand ShifterTax Levied onEmployers(Dollars per hour)43750Labor Supplied(Number of workers)Supply ShifterTax Levied onWorkers(Dollars per hour)?00 For each of the proposals, use the previous graph to determine the new number of laboratory aides hired. Then compute the after-tax amount paidby employers (that is, the wage paid to workers plus any taxes collected from the employers) and the after-tax amount earned by laboratory aides(that is, the wage received by workers minus any taxes collected from the workers).Levied onEmployers(Dollars per hour)4Tax Proposal02Levied onWorkers(Dollars perhour)042Quantity Hired(Number ofworkers)The proposal in which the entire tax is collected from workersSuppose the government doesn't want to discourage employers from hiring laboratory aides and, therefore, wants to minimize the share of the taxpaid by the employers. Of the three tax proposals, which is best for accomplishing this goal?The proposal in which the tax is collected from each side evenlyThe proposal in which the tax is collected from employersAfter-Tax Wage Paid byEmployers(Dollars per hour)None of the proposals is better than the othersAfter-Tax Wage Received byWorkers(Dollars per hour)

This can be defined as a concept that reflects an individual’s willingness to pay for each unit of…

Suppose the government doesn't want to discourage employers from hiring laboratory aides and, therefore, wants to minimize the share of the tax paid by the employers. Of the three tax proposals, which is best for accomplishing this goal? O The proposal in which the entire tax is collected from workers The proposal in which the tax is collected from each side evenly O The proposal in which the tax is collected from employers O None of the proposals is better than the others

Suppose the government doesn't want to discourage employers from hiring laboratory aides and, therefore, wants to minimize the share of the tax paid by the employers. Of the three tax proposals, which is best for accomplishing this goal? O The proposal in which the entire tax is collected from workers The proposal in which the tax is collected from each side evenly O The proposal in which the tax is collected from employers O None of the proposals is better than the others

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Accordingtothetextbook,whichofthefollowingstatementsis(are)correct? (x) When a taxpayer attempts to legally reduce her tax liability, she is engaging in “tax evasion” and when an individual fraudulently avoids paying taxing, she is engaging in “tax avoidance”. (y) One tax system is considered more efficient than another if it raises the same amount of tax revenue at a lower cost to taxpayers. (z) Part of the administrative burden of a tax is associated with the headache of filling out tax forms imposed on taxpayers who comply with the tax. (x), (y) and (z) (x) and (y) only (x) and (z) only (y) and (z) only (x) only
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(J) Everyone living in Isolation, Alaska works at one of two fish canneries for their entire life. Over a career at Placid Cannery a worker is paid $1 million and the risk of death by canning machine is 1%. At Megadeath Cannery a worker is paid $1.2 million and the risk of death is 5%. What is the value of a statistical life in Isolation? Show your work.
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