# 4 or 5 4.) Taxation, Distribution of Income and Resource Allocation First, explain how society decides rationally on horw much

###### Question:

4 or 5
4.) Taxation, Distribution of Income and Resource Allocation First, explain how society decides rationally on horw much equality it wants relative to income distribution. Next, discuss the policies available to the government to distribute income and the impact such policies may have on the microeconomy. Then, explain how despite economists use of economic analysis to provide sugsestions for responding to economic problems (i.e. housing crisis, financial crisis, Recession) the economy still often confronts market's short-comings that deeply impact consumers and producers Lastly, using any graph of your choice from the textbook, graphically illustrate your explanation 5.) Taxation, Distribution of Income and Resource Allocation First, using the following hypothetical income-tax table, compute the marginal and average tax rates Income Income Tax Marginal Tax Rate Average Tax Rate $2,000$20,000 $30,000$2,700 $40,000$3,200 $50,000$3,500 Next, describe whether or not the tax is progressive, proportional, or regressive? Lastly, develop a concluding statement using the criteria of equity and efficiency in taxation to assert whether or not Americans are overtaxed

#### Similar Solved Questions

##### DONT ANSWER UNLESS YOU ARE SURE!!!! Sick of you giving me the wrong answers. Indicate whether...
DONT ANSWER UNLESS YOU ARE SURE!!!! Sick of you giving me the wrong answers. Indicate whether the pair of structures shown represent stereoisomers, constitutional isomers, different conformations of the same compound, or the same conformation of a compound viewed from a different perspective. Note t...
##### Required information The following information applies to the questions displayed below.] Hanks Company is developing its...
Required information The following information applies to the questions displayed below.] Hanks Company is developing its annual financial statements at December 31, current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income ...
##### A person's rotational inertia is least about a. an axis through the person's feet b. the...
A person's rotational inertia is least about a. an axis through the person's feet b. the person's median axis c. the person's longitudinal axis an axis through the person's hands the person's transverse axis d. c....
##### Find the solution of the given initial value problem: y" + y = f(t); y(0) =...
Find the solution of the given initial value problem: y" + y = f(t); y(0) = 6, y'(0) = 3 where f(t) = 1, 0<t<3 0, įst<<...
##### The thin walled pressure vessel with closed ends shown below is under an internal pressure of...
The thin walled pressure vessel with closed ends shown below is under an internal pressure of P 6 MPa. If the pressure vessel has a radius of r 15 degrees from the longitudinal axis (i.e 144 mm and a wall thickness of t = 5 mm, what is the magnitude of the shear angle stress at an - T x'v). Ensu...
##### PROBLEM 8.5: (This problem is based on a problem from MIT's course 6.003, found on OpenCourseWare...
PROBLEM 8.5: (This problem is based on a problem from MIT's course 6.003, found on OpenCourseWare.) Suppose a continuous-time signal rc(t) is multiplied by an impulse train with alternating signs: (a) Find P(jw), the Fourier transform of p(t). (Hint: notice that p(t) is periodic with period 2T, ...
##### 1. One liter of a saturated sol’n of Ag2CrO4 at 25°C contains 0.0435 g of Ag2CrO4....
1. One liter of a saturated sol’n of Ag2CrO4 at 25°C contains 0.0435 g of Ag2CrO4. Calculate its Ksp. 2. Calculate a) molar solubility, b) [ ] of the constituent ions, and c) solubility in g/l for Zn(OH)2. Ksp = 4.5 x 10-17....
##### Question 22 (2 points) During September, 2021 Smith Corporation decided to change its estimate of the...
Question 22 (2 points) During September, 2021 Smith Corporation decided to change its estimate of the residual value of its machinery that was acquired in 2018. This will cause the amount of annual depreciation expense to increase over the prior amounts recorded in 2019 and 2018. Smith Corporation s...
##### Suppose a gas-filled incandescent light bulb is manufactured to have atmospheric pressure in it at 20.0°C....
Suppose a gas-filled incandescent light bulb is manufactured to have atmospheric pressure in it at 20.0°C. Find the gauge pressure inside such a bulb when it is hot, assuming its average temperature is 68.5°C and neglecting any change in volume due to thermal expansion or gas leaks. atm...
##### Jones Enterprises was started when it acquired $6,000 cash from creditors and$10,000 from owners. The...
Jones Enterprises was started when it acquired $6,000 cash from creditors and$10,000 from owners. The company immediately purchased land that cost \$12,000. Required a. Record the events under an accounting equation. (Enter any decreases to account balances with a minus sign. Leave no cells blank - ...