2) If an income maintenance program entails a $3,000 basic benefit and a reduction rate of...
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2) If an income maintenance program entails a $3,000 basic
benefit and a reduction rate of...
1.8. Consider an income guarantee program with an income guarantee of $5,000 and a benefit reduction...
1.8. Consider an income guarantee program with an income guarantee of $5,000 and a benefit reduction rate of 40%. A person can work up to 2,000 hours per year at $10 per hour. a. Draw the person’s budget constraint with the income guarantee. b. Suppose that the income guarantee rises to $7,500 but with a 60% reduction rate. Draw the new budget constraint. c. Which of these two income guarantee programs is more likely to discourage work? Explain. d. Draw...
A councilman has presented a detailed proposal for a universal basic income. Under his proposal, every...
A councilman has presented a detailed proposal for a universal basic income. Under his proposal, every adult citizen in the US would receive an annual payment of $15,000 and every citizen under 18 would receive $3,500. These benefits would be financed through a set of taxes. The councilman’s proposal is to finance the basic income through a 25% tax on wage and salary income. a. draw an income leisure diagram for a family with two adults and two children. Assume...
. Suppose under TANF your state provides an income guarantee of $7,000 and a benefit reduction...
. Suppose under TANF your state provides an income guarantee of $7,000 and a benefit reduction rate of 60%. The typical recipient can work up to 2,000 hours per year at a wage of $8 per hour. What would be the effective take-home wage rate if the recipient works 50 hours per year?
1). The retirement benefit of the Social Security program is considered a progressive benefit with a...
1). The retirement benefit of the Social Security program is
considered a progressive benefit with a regressive financing
scheme.
(1) How is the Social Security benefit progressive?
(2) How is its financing scheme regressive?
2). One of the main goals of the ACA (Patient Protection and
Affordable Care Act of 2010, aka Obamacare) was to provide
affordable health care to the uninsured.
1. What were the THREE primary pieces of the law that were meant to
provide coverage for everyone...
Suppose a single parent can work up to 16 hours per day at a wage rate...
Suppose a single parent can work up to 16 hours per day at a wage rate of $ 10 per hour. Various income maintenance programs have been developed to assure a minimum level of income for low-income families, such as AFDC (see Problem 2). One of the problems with AFDC is that benefits were reduced by $ 1 for every dollar earned. An alternative income maintenance program is Temporary Assistance for Needy Families (TANF), which also offers a no-work benefit...
Gulf Shore Lawn and Garden Maintenance provides two general outdoor services: lawn maintenance and garden maintenance....
Gulf Shore Lawn and Garden Maintenance provides two general outdoor services: lawn maintenance and garden maintenance. The company charges customers $10.0 per hour for each type of service, but lawn maintenance has higher variable costs ($4.0 per hour) than garden maintenance ($2.0 per hour) because of fuel expenses incurred to operate lawn-mowing equipment. All employees are paid a fixed monthly salary. A contribution format income statement for a recent month for the two services appears below. During the month, 8,000...
Gulf Shore Lawn and Garden Maintenance provides two general outdoor services: lawn maintenance and garden maintenance....
Gulf Shore Lawn and Garden Maintenance provides two general outdoor services: lawn maintenance and garden maintenance. The company charges customers $16.0 per hour for each type of service, but lawn maintenance has higher variable costs ($6.4 per hour) than garden maintenance ($3.2 per hour) because of fuel expenses incurred to operate lawn-mowing equipment. All employees are paid a fixed monthly salary. A contribution format income statement for a recent month for the two services appears below. During the month, 8,000...
HI, I need a help with the part (b) of this question. I have the solution...
HI, I need a help with the part (b) of this question. I have the solution guide book but it won't help me. I want a detail explanation. Here is the problem: 1. Consider an income guarantee program with an income guarantee of $3,000 and a benefit reduction rate of 50%. A person can work up to 2,000 hours per year at $6 per hour. Alice, Bob, Calvin, and Deborah work for 100, 333 ⅓, 400, and 600 hours, respectively,...
Assume the gross wage of w=$10 per hour and gross non-wage income YN = $5000 per...
Assume the gross wage of w=$10 per hour and gross non-wage income YN = $5000 per year. Assume a maximum of 6,000 hours of leisure per year (T= 6000 per year ), so that full income for the worker is $65,000. Draw the budget constraint under each of the following taxes and transfer schemes. The federal Earned Income Tax Credit (EITC) program, which has the following features (approx.) for a family of 4. For annual earnings below $14,000, a person...
2. Consider a Universal Basic Income (UBI) program: every person over age 18 is given $10,000...
2. Consider a Universal Basic Income (UBI) program: every person over age 18 is given $10,000 per year, regardless of their labor income or assets. Suppose there is no other welfare system or benefits for the poor. a. Draw a person’s budget constraint with the program, and without the program (that is, with no government help). Be sure to label which is which. b. Using income and substitution effects, explain the theoretical effect of the UBI program on people’s labor...
1). The retirement benefit of the Social Security program is
considered a progressive benefit with a regressive financing
scheme.
(1) How is the Social Security benefit progressive?
(2) How is its financing scheme regressive?
2). One of the main goals of the ACA (Patient Protection and
Affordable Care Act of 2010, aka Obamacare) was to provide
affordable health care to the uninsured.
1. What were the THREE primary pieces of the law that were meant to
provide coverage for everyone...
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