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- Exercise D24 Compare two policies: a tax cut on income or an increase in government spending on roads and bridges. What are both the short-term and long—term impacts of such policies on the economy?ASAPThe percentage of an increase in income that is taxed is: O a regressive tax. O the marginal tax rate. O the average tax rate. O a flat tax.
- A change in a fixed tax willcause the consumptionschedule toa. become steeper.b. become flatter.c. shift in aparallel manner.d. remain fixed as theeconomy moves along theschedule.Give answer with explanationQUESTION 4 If income tax rates are based on nominal income, as inflation increases, taxpayers will see A. their taxes fall as their income falls. OB. an increase in the nominal income. OC. their taxes rise even though their real income is falling. O D.their taxes fall even though their real income is rising. O E. an increase in their real incomes G. H. B Alt Control2. Assume that there is an increase in taxes Which determinant? A AD or A AS? P LRAS SRAS P₁ AD What happens to: Price Level Real GDP Inflation Unemployment Economic Growth Y YF
- S Suppose a tax is such that an individual with an income of $10,000 pays $1,500 of tax, a person with an income of $20,000 pays $2,500 of tax, a person with an income of $30,000 pays $3,000 of tax, and so forth. Instructions: Enter your answers rounded to 1 decimal place. a. What is each person's average tax rate? Income $ 10,000 20,000 30,000 Tax Paid. Average Tax Rate 15 % Regressive $1,500 2,500 3,000 8 b. Is this tax regressive, proportional, or progressive?Net taxes are taxes paid minus O A. subsidies O B. consumption expenditure of households O C. capital expenditure D. cash benefits received from governmentsAn increase in..........will increasesupplySelect one:O a. TaxesO b. Income of consumers.SubsidiesO dd. Number of consumers
- a ssume HPC =0.80 and that taxes are at by64billion goverment purchases are increused by $4billion Accord ing to keynesian analy sis (fiscal policy) How mich will ŘGDPchang e? will it increase or deciease?Which payroll tax is imposed on both the employee and the employer? O a. federal unemployment tax b. state unemployment tax O c. federal income tax Od. FICA taxEconomics The marginal propensity to consume is 0.8, the marginal tax rate is 02. and the marginal propensity to import is 0.14. The price level is fixed. The autonomous tax muluplier is If the autonomous tax by the equilibrium real GDP by O A. decreases; 20, increases; 32 O B. increases; 12; increases: 30 O C. decreases; 20, increases; 60 OD. increases: 12; decreases, 30 O E. decreases; 30; decreases; 48 34