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Exercises

澳洲经济作业代写 Zach lives two periods, earning $31,500 in the first and nothing in the second. The rate of return on savings is 8 percent.

Question 1:

Zach lives two periods, earning $31,500 in the first and nothing in the second. The rate of return on savings is 8 percent. Zach faces a sales tax rate of 5 percent and a tax rate on interest income of 20 percent. His after-tax consumption level in the first period is$16,000. The rest of his earnings are used to pay the sales tax and to save for the second period. Determine how much Zach saves and how much he consumes in the second period. Determine how much Zach pays in sales taxes in each period and how much he pays in interest income tax.

Question 2:  澳洲经济作业代写

Ami and Shirley both live two periods. Both have earnings of $1,000 in the present and zero in the future. The interest rate is 8 percent. Suppose that they are each   subject to an income tax, and Ami’s first period consumption is $200 while Shirley’s is $300. Who has the higher lifetime tax burden? Under a proportional consumption tax, how would their lifetime tax burdens compare?

Question 3:

Rich lives two periods. His earnings in the present are $100; in the future they are $75.60. The interest rate is 8 percent.

a.Suppose Rich’s earnings are subject to a 25 percent tax. Suppose also that interest earnings are taxed at the same rate and interest paid is tax deductible. Using the life- cycle model, show that this tax generates excess burden (Hint: how does the tax change the intertemporal budgetconstraint?)

b.Suppose now that the interest payments are not tax Does this tax generate an excess burden if Rich is aborrower?  澳洲经济作业代写

c.Now assume that the tax is scrapped in favor of a consumption tax. What consumption tax rate would yield the same revenue? Does this tax distort the choice between present and futureconsumption?

d.Now assume that the consumption tax in part (c) is instituted, but the deduction of interest payments remains. Does this tax distort the choice between present and future consumption?

Question 4:  澳洲经济作业代写

In the table below, with a GST rate of 5 percent

a.How much does each producer collect inGST?

b.How much does each producer receive as a GSTcredit?

c.How much does each producer remit to thegovernment?

Question 5:  澳洲经济作业代写

The table below shows the value added at each stage in the production and sale  of furniture.

Fillin the blanks in the table, assuming a GST rate of 5 Exercises percent.

Repeatthe calculations in part (a), but now suppose that the retail sector is tax exempt.

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