Refer to the information provided in Figure 9.3 below to answer the questions that follow. Refer to Figure 9.3. The tax multiplier is O-1.7. O-2.5. O-1.8. O-1.5. Planned aggregate expenditure, AE (billions of dollars) AE-C+I+G Aggregate output, Y (billions of dollars) Figure 9.3
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- Give typing answer with explanation and conclusion Suppose that the typical Canadian spends 80 percent of their income. There is an income tax rate is 15% per period. If the government wanted to see the effect of a tax cut of $50 billion, what would be the tax multiplier that they would have to use.explanation. Be sure to exp Assume the United States has been in another recession for the past 10 months. Unemployment is 10% and GDP has dropped $1.9 trillion from its previous peak of $ 20.8 trillion. The housing and heavy equipment industries have been hit the hardest. Inflation has been near the 2% target but has started to dip below. Also, the countries average MPC is 60. Determine the best fiscal policy/strategy to help the economy recover and explain why it is the best choice. Be sure to reference Aggregate Demand and Aggregate Supply and explain your specific tools in your answers. Calculations Explanation Graph (More space for the explanation on the back)Question 20 In which case will the government collect more tax revenue if tax revenue is tax rate multiplies income? 4% tax rate and $80,000 average income 90% tax rate and $15,000 average income 30% tax rate and $40,000 average income O 15% tax rate and $95,000 average income
- Question 18/28 > NEXT A BOOKMARK 18 According to the pie chart, which of the following provides the most revenue for the federal government? Federal Tax Revenue 2015: $3.18 trillion Corporate Inco Taxes Miscellaneous Individual Income Taxes Excise Taxes $1.48 trillion 47% Customs Duties Payroll Taxes $1.07 trillion 34% nationalpriorities.org PRIORITIES A Individual income taxes B Corporate taxes C Payroll taxes D Excise taxes DELL -> @ # $ 7 8. 1 4 W e y < O 551. If taxes depend on income, then the magnitude of the government spending multiplier it would be if taxes were a lump-sum amount. A) could be either larger than or smaller than B) is larger than C) is equal to what D) is smaller thanRefer to the information provided in Figure 24.5 below to answer the question(s) that follow. Planned aggregate expenditure, AE (billions of dollars) 1,600- 400 450 AE 1,600 Aggregate output, Y (billions of dollars) Figure 24.5 Refer to Figure 24.5. The government spending multiplier equals 5:-4 9;-8 4:-3 2.5:-1.5 4 and the tax multiplier equals,
- Only typed answer and please don't use chatgpt Suppose the tax multiplier in an economy is -3. How will total spending (TS) change when taxes (T) increase by $300? Group of answer choices TS will decrease by $900 TS will decrease by $100 TS will increase by $900 TS will increase by $100Complete 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%O HS: Economics (M] (Sequential) ( x A williamsonhs.Ims.pearsonconnexus.com/student/27220060/activity/econwtax_quiz Quiz: What Are Taxes? 目 HS: Economics [M] (Sequential) (GP) / 14:Taxes and Government Spending JAKERIA Payne-Luckett Al changes saved 1. Suppose your total taxable income this year is $75,000. You are taxed at a rate of 10 percent on the first $25,00o, 20 percent on the next $25,000, and 30 percent on the final $25,000. What is your total income tax? O $25,000 O $7,500 O $2,500 F11 O $15,000 Bacl Ctrl 1 of 10 NEXT 8:32 AM A D A d 7/29/2021
- 17 - If taxes (T) increase, total expenditures decrease. In what direction does the demand curve shift?A) To the rightB) Moves on CurveC) NoneD) leftE) immutableThe question is based on the following information: Item R million 510 540 490 534 Total government revenue Total government expenditure Current government revenue Current government expenditure Non-interest expenditure Cyclically adjusted revenue Cyclically adjusted expenditure The current budget balance is R million. If the balance is negative indicate it using the minus sign in your answer for instance-32 Answer: 500 480 5002) As an economist and based on the impact of COVID-19, identify and justify economicand fiscal policy measures that should be taken by the government with the aim of reviving the economic condition of the country based on the following:a) Expansionary fiscal policyb) Contractionary fiscal policyc) Expansionary monetary policyd) Contractionary monetary policy