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- C = 450 + 0.4YI = 350G = 150X = 70Z = 35 + 0.1YT = 0.15YYf = 1550Q.2.5 Calculate what the new equilibrium income should be if the government of thiscountry decides to cancel all taxes, implying the tax rate would now be 0%.What is the difference between indirect taxes and net indirect taxes? Macro economicsAlgebraically derive the government spending and tax multiplier for the case in which tax revenues depend on income level. Verbally explain what you do in each step of the derivation.
- Discuss the consequence of a rise in direct taxes to the economy as a wholeIn the given question What will be the Net indirect taxes if the subsidies are 610 and Indirect taxes are 880?Calculate the value of indirect taxes for the following two cases:- (1) Indirect tax = 0 , subsidies = $100 (2) indirect taxes = $200 , subsidies = $130
- Calculate the average and marginal tax rates inthe following table, and indicate whether the taxis progressive, proportional, or regressive. Whatobservation can you make concerning the relationshipbetween marginal and average tax rates?Given the market value of indirect taxes are 630 and subsidies are 34 what will be the value of net indirect taxes?Calculate the government spending and tax multipliers for each income bracket, considered separately. MPC Tax Multiplier Income/spending Multiplier Household income 0-$30,000 $31,000-50,000 $51,000-80,000 $80,000 and above 0.9 0.8 0.75 0.6
- What is the formula/ way to include tax into these equations. I’m not sure how to graphIf the MPC is 0.9, then the tax multiplier is a. -0.1 b. -1.11 c. -9 d. -10Complete the following table and answer one question. a. Assuming an 8 percent sales tax is levied on all consumption, complete the following table: Instructions: Round your responses for "Sales Tax" to the nearest whole number. Round your responses for "Percentage of Income Paid in Taxes" to one decimal place. Income Consumption $10,000 20,000 40,000 80,000 Sales Tax $11,000 $ 20,000 $ 1,400 36,000 $ 2,520 60,000 $ 4,200 x 770x Percentage of Income Paid in Taxes 7.7% 7.0% 6.3% X 5.3%
