31. INCOME TAX The accompanying table represents the 2007 federal income tax rate schedule for single taxpayers. a. Express an individual's income tax as a function of the taxable income x for 0 =xs 97,925 and draw the graph. b. The graph in part (a) should consist of four line segments. Compute the slope of each segment. What happens to these slopes as the taxable in- come increases? Interpret the slopes in practical terms.
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- Activity 2: Taxes and Salary are related to one another when it come to purchasing power which affect entrpreneurs, diagram presented this relationship, explain briefly. SALARY TAXES3) A tax on gasoline is proposed in order to raise money for the pollution-control activities of several public agencies. The tax will be 10¢ per gallon, and last year 10.3 million gallons of gasoline were used by motorists (this is strictly an illustrative number). Does this mean that we can anticipate S1,030,000 in revenues from this tax? Explain and use a graph to answer this question.6 05:09 12:07 AM.. 51.8KB/s, 0 VPN talll 3 73) = Chegg Time remaining: 00:09:56 Economics In the budget presented by the Government, far reaching tax rebates are provided to all classes of tax payers. A researcher therefore conducts survey to examine whether these tax reductions have led to a change in the consumption patterns of various social classes in the country. What kind of study would this fall under. Explain your answer Answer Skip Exit
- (ii) Suppose Country B is similar to Country A in the amount of government expenditures and the level of real GDP at full employment. But instead of a proportional tax system, Country B has a lump-sum (regressive) tax system that balances the budget at all levels of GDP. Graph the tax revenues for this country. Instructions: Use the tool provided 'Tax revenues' to illustrate the country's tax revenues. Plot the first point of the line where real GDP is $20 billion and the second point where real GDP is $80 billion. Plot only the endpoints of the line. $25 Tools $20 Tax revenues $15 $10 G $5 $20 $40 $60 $80 $100 Real domestic output, GDP (billions) Government expenditures, G, and tax revenues, T (billions)Provide a trend analysis for income taxes ratios. What does it mean when a company's income taxes ratios increase over the years?Define the term Gross revenues?
- Mrs. B is engaged in both sales of goods and sales of services. She incurred a total of P9,000 entertainment, amusement, and recreation expenses in 2018. She reported P300,000 in net sales and P700,000 in net revenues. Compute for the total deductible EAR.Based on the data, answer the questions. Earner Sally Pat What is Sally's tax rate? 38% 33% O 28% 24% Annual income amount $94551.00 $304557.00 What is Pat's tax rate? 0000 O 22% 31% 33% 24% Income tax amount $31201.83 $73093.68Question 4Select the information you need from the following figures and calculate the nationalincome for the year shown:Government Spending R18 000Depreciation R6 000Investment spending R35 000Net foreign spending R12 000Indirect taxes R14 500Net factor payments (R4 000)Consumer spending R30 000Subsidies R4 000
- 2. Consider the following two tables with output derived from data of a single country. Table 1 sets out expenditure shares for households at various points on the income distri- bution. 1 Table 1: Expenditure shares for households Expenditure shares (percentage) at: Expenditure category median of income bottom 10% of top 10% of distribution income income distribution distribution Food 46.3 50.2 18.3 Rent 19.1 25.8 27.7 Transport 5.8 5.5 9.8 Household Items 1.9 0.1 10.4 Healthcare 1.1 0.5 13.6 Education 12.0 2.4 15 Personal items 5.3 5.1 2.3 Energy 3.1 2.3 0.8 Clothing 2.2 1.2 1.9 Miscellaneous 3.2 2.6 4.2 Total 100 100 100 Table 2 sets out the regression output from an OLS regression estimating the share of household budget devoted to mealie meal and meat using the Working-Leser Engel curve specification: K-1 wi = ai + Biln (2) + niln(n)+ Yik- n + T;Z + ui k=1 where w; is the share of total household expenditure on food item i (mealie meal or meat) measured as a proportion between 0…tion 26 of 49 > dit 20% Calculate the slope of the line in the figure. * * F1 C * F2 The slope of the line is 0000 -8. 04. -4. 08. 2 ۲ 80 F3 3 ۳ W " **** a F4 $ 4 E E C MacBook A R - FS % 50 ی in 10) LL A 56 T FA B C E K L M N A common perception is that airline profits are strongly correlated with the price of oil. The Following are annual net incomes of American Airlines together with the approximate price of oil in the period 2005-2010: 3 a. Populate the table American Net Income (S million) (y) Barrel Oil ($) Year ху (x) 4. 5. 1 2005 56 -850 6 2006 63 250 7. 3 2007 67 450 8. 4 2008 92 -2100 2009 54 -1450 10 6. 2010 71 -700 11 12 13 14 b. What is Ex? 15 16 c. What is Ey 17 18 d. What is n? 19 20 e. What is Exy 21 22 £. What is (Ex²) 23 24 g. What is (Ex) 25 26 h. Obtain a regression line (obtain the coefficients) showing American's net income as a function of the price of oil 27 28 29 30 31 32 i. Obtain the coefficient of correlation r 33 34 35 Use the data analysis tool in Excel to obtain the coefficients in part 1(h). Copy and Paste your regression output 37 below. 36 38 39