The government has decided to give universal basic income(UBI) of some amount to all citizens from...

The government has decided to give universal basic income(UBI) of some amount to all citizens from now on and forever. What will happen to the economy in terms of money supply, price level, nominal and real interest rates, real GDP, unemployment, AD, and AS?

Expert Solution

Rahul Sunny answered 9 months ago

Do you believe we should enact some form of Universal Basic Income (UBI) for all citizens...

Do you believe we should enact some form of Universal Basic Income (UBI) for all citizens or residents? Why or why not? subject business ethics

The idea of a universal basic income (UBI) policy has been proposed in many different forms....

The idea of a universal basic income (UBI) policy has been proposed in many different forms. At its most basic, it consists in a guaranteed stipend provided by the state to its citizenry. Proposals for UBI have recently regained political traction as economies face a new kind of industrial revolution, which continues to change the labor market landscape at unprecedented rates.1 Proponents of UBI proposals often argue that with work automation cutting entire labor markets, new jobs cannot be created...

One argument in favor of universal basic income (UBI) and theEarned Income Tax Credit (EITC)...

One argument in favor of universal basic income (UBI) and the Earned Income Tax Credit (EITC) over minimum wage legislation is that a. all of the answers are correctb. none of the answers are correct since the minimum wage always increases total labor incomec. poverty is a social issue and society as a whole should bear the costs of its eliminationd. the disincentive (work-leisure) effects of the UBI and EITC is less than the disincentive (hiring) effects of the minimum wagee....

The government has decided to increase the basic business tax of all firms by 5%. Once...

The government has decided to increase the basic business tax of all firms by 5%. Once again, you are hired as a consultant to a firm, but this firm cannot pass along the cost of the tax increase to its customers by way of a price increase of its product because most customers will significantly reduce their purchases. Based on what you have learned in your study of microeconomics: A. Set forth and describe 2 general courses of action...

If the government imposes a universal basic income program without increasing taxes other than the potential...

If the government imposes a universal basic income program without increasing taxes other than the potential revenue increase through indirect taxation of consumption(GST etc.) what would be the impact on the economy in general? Please respond considering the market for labour, market for loanable funds and the overall change in the GDP.

2. Across some Scandinavian countries an experiment with a concept called Universal Basic Income is taking...

2. Across some Scandinavian countries an experiment with a concept called Universal Basic Income is taking place. The next question relate to this issue a. Please do a search UBI and explain what it is. b. Using the budget line and indifference curve between income and leisure, • Draw and explain what would happen to the budget line, be sure to discuss if there are changes in the slope or not. Draw the new utility maximization income-leisure combination • Based...

In the universal guaranteed basic income, the best solution for poverty and income inequality?

The basic premise of the U.S. income tax system is that U.S. citizens, resident aliens and...

The basic premise of the U.S. income tax system is that U.S. citizens, resident aliens and corporations are subject to tax on worldwide income regardless of the country from which the income derives. The Tax Cuts and Jobs Act of 2017 essentially moved the U.S. towards a hybrid “Worldwide Tax System” to a “Territorial Basis Tax System.” Briefly explain the “old system” and then describe some of the most salient provisions which characterize a “Territorial System.” Provide explanations, analysis and...

The concept of a universal basic income could be viewed as a public health issue? Explain...

The concept of a universal basic income could be viewed as a public health issue? Explain why. How could you test whether a universal basic income has an impact on public health?

Should the U.S. government be responsible for providing all citizens with computers and access to the...

Should the U.S. government be responsible for providing all citizens with computers and access to the Internet? Or is gaining Internet access an individual responsibility?

Question