The primary reason why the government taxes economic activities is to generate revenue in order to pay for services rendered t the citizens.
<h3>What is Tax?</h3>
Tax is a mandatory financial charge or levy imposed on taxpayers by a governmental organization in order to generate revenue to fund government spending.
Taxes are imposed on economic activities primarily to generate revenue for the government and fund government spending. Thes taxes are used to build infrastructures and pay workers.
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Answer:
a. What is the unemployment rate in this economy?
The formula is
Unemployment Rate = Unemployed People / Labor Force
Now, we plug the amounts into the formula:
Unemployment Rate = 9.0 / 157.2
= 0.0573
= 5.73%
b. What is the labor force participation rate?
Labor Force Participation Rate = Labor Force / Population Over 16
= 157.2 / 249.7
= 0.6296
= 62.96%
c. Suppose that 1 million currently unemployed workers decide to no longer actively look for work. What is the unemployment rate in this economy now?
1 million people have now left the labor force, and they also represent 1 million less unemployed.
Unemployment Rate = 8.0 / 156.2
= 0.0512
= 5.12%
d. What is the new labor force participation rate? %
Labor Force Participation Rate = Labor Force / Population Over 16
= 156.2 / 249.7
= 0.6256
= 62.56%
Answer:
Final Value= $4,216,869
Explanation:
Giving the following information:
You have decided that one year from today you will begin depositing 10 percent of your annual salary in an account that will earn 9.2 percent per year. Your salary will increase at 3 percent per year throughout your career. Your salary is $52,000
Your retirement is in 40 years.
We need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A=annual payment= 5,200
i= 9.2% interest + 3% year increase= 12.2%
n=40
FV= {5,200*[(1.122^40)-1]}/0.122
FV= $4,216,869
According to the Truth in Lending Law, credit contracts must include C. all charges not included in the finance charge. Creditors are required to explain and show how they calculate finance charges. If there is anything not included in the finance charges it needs to be explained so that consumers know what to expect to pay for service fees on each bill.
Answer:
d. $13,100
Explanation:
Net Present value = [Future Annual cash flows * PVIFA (3, 9%)] - Initial investment
Net Present value = [$100,000*2.531} - $240,000
Net Present value = $253,100 - $240,000
Net Present value = $13,100
