2. You pay a marginal rate of 3% on the first $10,000 of incomeand a marginal rate of 5% on the seco

Need your ASSIGNMENT done? Use our paper writing service to score better and meet your deadlines.


Order a Similar Paper Order a Different Paper

2. You pay a marginal rate of 3% on the first $10,000 of incomeand a marginal rate of 5% on the second $10,000 of income. You make$18,000 a year, how much is your income tax? 3. Answer True or False for each of the following. (3 pointseach) In the real world government spending is independent of incomelevels. Many Americans actually pay more to Social Security/Medicarethan income taxes. Excise taxes are proportional because everyone pays the samedollar amount. Tax rates in the US are higher than is usual among developedcountries. Progressive taxes are based on the ability to pay principle. In an open economy aggregate demand or aggregate expenditures isC + I + G. A trade deficit lowers the demand for a country’s goods. The US has not run a trade surplus for over 20 years. The US is the world’s largest exporter but not the world’slargest importer. Trade makes up a larger percent of the US economy than a coupleof generations ago. 3. Show what happens to the Aggregate Expenditures line if thecountry runs a trade surplus, i.e. draw in a new curve labeledC+I+G+Xn or describe where that new curve goes. (10 points) 4. Mr. A makes $50,000 a year and pays $10,000 in taxes. Ms. Bmakes $30,000 a year and pays $6,000 in taxes. Find the tax rateand after tax income for each of them. Identify what type of taxthis is – progressive, flat or regressive. (25 points) 5. Consumption is $6 trillion, investment is $2 trillion andgovernment purchases are $2.5 trillion. The country exports $1trillion and imports $1.5 trillion. Find net exports and solve forthe level of aggregate demand. (10 points) . . .

"Is this question part of your assignment? We can help"

ORDER NOW
Writerbay.net

Do you need help with this or a different assignment? We offer CONFIDENTIAL, ORIGINAL (Turnitin/LopesWrite/SafeAssign checks), and PRIVATE services using latest (within 5 years) peer-reviewed articles. Kindly click on ORDER NOW to receive an A++ paper from our masters- and PhD writers.

Get a 15% discount on your order using the following coupon code SAVE15


Order a Similar Paper Order a Different Paper