Assume that the government proposes a negative income tax that calculates the taxes owed as follows: taxes owed equal 30% of income less $12,000 . A family that earns an income of $40,000 will
a. neither pay taxes nor receive an income subsidy.
b. receive an income subsidy of $3,600.
c. pay $3,600 in taxes.
d. pay $12,000 in taxes.
a
Economics
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In a sequential game
A) a player has to look forward and reason forward. B) a player has to look forward and reason back. C) a player has to look back and reason forward. D) a player has to look back and reason back.
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If you were to start your own business, your implicit costs would include the:
A. opportunity cost of the time you spend working at the business. B. profit you earn over and above your normal profit. C. interest that you pay on your business loans. D. rent that you have paid in advance for the use of a building.
Economics