The IRS will be likely to collect more tax revenue if O A) businesses hire more undocumented workers O B) there is a shift in employment from black markets to formal markets C) there is an increase in household production D) there is an increase in illegal sports betting
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- WAGE(Dollars per hour) 20 18 16 14 12 10 8 6 4 2 0 0 40 80 120 160 200 240 280 320 380 400 LABOR (Number of workers) Levied on Employers (Dollars per hour) 4 Supply Tax Proposal 0 2 berand I I Levied on Workers Graph Input Tool Market for Laboratory Aides Wage (Dollars per hour) (Dollars per hour) 0 4 2 Labor Demanded (Number of workers) Demand Shifter Tax Levied on Employers (Dollars per hour) For each of the proposals, use the previous graph to determine the new number of laboratory aides hired. Then compute the after-tax amount paid by employers (that is, the wage paid to workers plus any taxes collected from the employers) and the after-tax amount earned by laboratory aides (that is, the wage received by workers minus any taxes collected from the workers). Quantity Hired (Number of workers) 4 248 0 Labor Supplied (Number of workers) Supply Shifter Tax Levied on Workers (Dollars per hour) After-Tax Wage Paid by Employers (Dollars per hour) 152 After-Tax Wage Received by Workers…WAGE (Dolars per hour) REFIDE 30 30 60 90 120 150 10 210 240 270 300 LABOR (Number of workers) Tax Proposal Levied on Employers (Dollars per hour) Supply Levied on Workers Demand (Dollars per hour) 0 4 Graph Input Tool Market for Laboratory Aides Wage (Dollars per hour) Quantity Hired (Number of workers) Labor Demanded (Number of workers) Demand Shifter Tax Levied on Employers (Dollars per hour) 4 375 0.00 For each of the proposals, use the previous graph to determine the new number of laboratory aides hired. Then compute the after-tax amount paid by employers (that is, the wage paid to workers plus any taxes collected from the employers) and the after-tax amount earned by laboratory aides (that is, the wage received by workers minus any taxes collected from the workers) Labor Supplied (Number workers) After-Tax Wage Paid by Employers (Dollars per hour) Supply Shifter Tax Levied on Workers (Dollars per hour) 0 0.00 After-Tax Wage Received by Workers (Dollars per hour)can you please solve this excercise for me? thank you very much
- QUESTION 1o Governor Kathy Hochul doen not like rabbits, She has decided to institute a $50 tax on rabbits, effective immediately. The existing supply and demand for peot rabbits in NYS was as follows prior to the tax: Supply: P9+ 0.40 Demand: P-75 - 0.40 How many rabbits are sold in the state atter the tax was implemented?1) Below is the demand and supply schedule for the market for personal chefs. These are chefs that are hired to come into the client’s home to prepare meals for them. Show all your calculations used to answer the following questions. d)calculate the excess demand or supply at the price of $35,$70,$25 and $65 e) If tax of 5$ imposed compute the consumer and producer tax burden Price per hour Qty supplied Qty demanded 20 0 29 25 1 26 30 3 23 35 5 20 40 7 17 45 9 14 50 11 11 55 13 9 60 15 7 65 17 5 70 19 3 75 21 1 80 23 0In an unregulated, competitive market we could calculate consumer surplus if we knew the equations representing supply and demand. For this problem assume that supply and demand are as follows: Supply P = 4 + 0.116Q Demand P = 25 - 0.10Q where P represents unit price in dollars and Q represents the number of units sold each year. Calculate the annual value of aggregate consumer surplus.
- The table below shows how supply and demand of gasoliine vary depending on the price: Demand (million of gal.) Price ($/gal) Supply (million of gal.) 1 787 483 1.2 700 550 1.4 640 600 1.6 580 623 1.85 531 660 2.2 450 680 2.4 430 700 2.6 420 720 2.8 390 735 2.9 357 765 Note: there is some randomization in the above data to account for price fluctuations. Make sure to check that you input the correct data in your device. Perform the following work • Assume that Supply has a quadratic relationship with the price. Find this relationship (the help buttons contain an article to compute trend-lines in Excel): S(p) = Round your answer to 3 decimal places • Assume that the Demand has a quadratic relationship with the price. Find this relationship (the help button links to an article to compute trend-lines in Excel): D(p) = Round your answer to 3 decimal places Use the trendlines to find the price corresponding to the equlibrium price between supply and demand: $ per gallon Round your answer to…If a quota is set above the equilibrium quantity, there will be: no immediate effect. a supply price for the quantity transacted that exceeds the demand price of the quantity transacted. missed opportunities in the form of mutually beneficial transactions that don't occur. O incentives for illegal activities.Please no written by hand and no emage I have been sitting here trying to figure out how to do this, and I don't understand it and I really need some help please. I don’t even know how to draw the charts. Supply and demand analysis can be used not only to determine the market clearing price and quantity but also to estimate the impact of government policies and regulations. In this scenario, the local market has been impacted by the offshoring of production. With the loss of higher paying production jobs, displaced workers were forced to take on lower paying services jobs. With the decrease in income, the demand for housing decreased, but the demand for rental units increased. The data in Table 2 represent the current market for rental units. In order to help struggling families, the local government passed a rent control law that sets the maximum rent that can be charged at $2,000 per month. Before the mayor acts on the Common Counsel resolution, she has asked you as the Chief of…
- 9. Minimum wage legislation The following graph shows the labor market in the fast-food industry in the fictional town of Supersize City. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool 20 Market for Labor in the Fast Food Industry 18 I Wage (Dellars per hour) 6 Supply 18 Labor Demanded (Thousands of workers) Labor Supplied (Thousands of workers) 900 378 14 12 10 Demand 90 100 270 380 450 540 430 720 810 900 LABOR (Thousands of workers) WAGE (Doll ars per hour)Price (dollars per pizza) 18 8 6 A 2 S+ tax on sellers S D 0 10 20 30 40 50 60 70 80 90 100 Quantity (thousands of pizzas) The figure above shows the pizza market in the city of Pepperoniville. If the government imposes the sales tax shown in the figure on sellers, then the price the buyer pays for pizza is $ and the price the seller receives for the pizza is $ Just enter value. Do not include the "$" sign.Its is known that the demand function for a product is P = 24 - 1/2Q and the supply function Q = 4 + 2PIts is known that the demand function for a product is P = 24 - 1/2Q and the supply function Q = 4 + 2P D. If the government provides a subsidy for tge product of Rp 10/ unit of goods, what is the price and quantity of goods in balance new *Rp : Indonesian currency