Question
In: Economics
Assume that a welfare program pays $200 per week if a person does not work and...
Assume that a welfare program pays $200 per week if a person does not work and reduces the welfare benefit of dollar for dollar with earnings. Assume that the individual does not have any other non wage income. Also assume that the individual has a market wage rate of $10/ hour. Assume a maximum of 120hours of leisure per week (T= 120/ week).
What is the breakeven level of earnings under the program? What is the breakeven level of hours of work under the program?
Suppose that in the absence of the program, the person would work 20 hours per week. What does the program have on the individuals hours of work? USE A GRAPH (NO EXCEL) TO SHOW ILLUSTRATE THE ANSWER.
Suppose that in the absence of the program, the person would work 40 hours per week. What does the program have on the individuals hours of work? USE A GRAPH (NO EXCEL) TO SHOW ILLUSTRATE THE ANSWER.
Answer questions 1-3 above if the program reduced benefits at the rate of 50 center for every dollar earned rather than dollar for dollar.
Solutions
Rahul Sunny answered 2 years agoRelated Solutions
Assume that a welfare program pays $200 per week if a person does not work and...
Assume that a welfare program pays $200 per week if a person
does not work and reduces the welfare benefit of dollar for dollar
with earnings. Assume that the individual does not have any other
non wage income. Also assume that the individual has a market wage
rate of $10/ hour. Assume a maximum of 120hours of leisure per week
(T= 120/ week).
What is the breakeven level of earnings under the program? What
is the breakeven level of hours...
A company pays its salespeople on a commission basis. The salespeople are paid $200 per week...
A company pays its salespeople on a commission basis. The
salespeople are paid $200 per week plus 9% of their gross sales for
that week. For example, a salesperson who sells $5000 worth of
merchandise in a week is paid $200 plus 9% of $5000, for a weekly
pay of $650.
Create an application that uses a for loop to
input each sales person’s gross sales for the week, and calculates
and displays that sales person’s weekly pay. Process one...
How does welfare work in Pennsylvania?
How does welfare work in Pennsylvania?
Many people consume eggs and toast at breakfast. Assume the typical person spends $15 per week...
Many people consume eggs and toast at breakfast. Assume the
typical person spends $15 per week on eggs and toast. Currently the
price of eggs is $0.75 per egg, and the price of toast is $0.50 per
piece.
(a) (10 points) Graph the budget constraint budget
constraint.
(b) Assume that some people have a utility function given by U =
min[T, 2E] where T is the quantity of toast measured in slices, and
E is the quantity of eggs.
i....
1- Clever Computers has a five-day work week and pays the office staff $3,050 each week....
1- Clever Computers has a five-day work week and pays the office
staff $3,050 each week. If the month ends on a Thursday, the
adjusting entry will credit Wages Payable for
a.$610.
b.$3,050.
c.$1,220.
d.$2,440.
2-
A month-end review of work performed during the month at an
accounting firm for tax clients indicates there are a total of 50
tax returns completed for which customers owe $196 each. They
remain unbilled at the end of the period. The adjusting journal...
The annual per capita (average per person) chewing gum consumption in the United States is 200...
The annual per capita (average per person) chewing gum
consumption in the United States is 200 pieces. Suppose that the
standard deviation of per capita consumption of chewing gum is 145
pieces per year.
(a) Find the probability that the average annual chewing gum
consumption of 84 randomly selected Americans is more than 220
pieces.
(b) Find the probability that the average annual chewing gum
consumption of 84 randomly selected Americans is within 100 pieces
of the population mean.
(c)...
Do engineers work more hours per week than the national average hours per week worked? ...
Do engineers work more hours per week than the national
average hours per week worked?
[ Choose ]
Two-sided test
One-sided lower test
One-sided upper test
Is the gas mileage of a smart for two coupe really less
than 40 mpg? (According to the 2013 EPA gas mileage figures, the
answer is yes. Doesn't seem that smart…)
[ Choose ]
Two-sided test ...
If a person spends $10 a week on coffee (assume $500 a year), what would be...
If
a person spends $10 a week on coffee (assume $500 a year), what
would be the future value of that amount over 8 years if the funds
were deposited in an account earning 3 percent? Round your FVA
factor to 3 decimal places and final answer to the nearest whole
dollar.
3. Does welfare-to-work penalize poor women by forcing them to work outside the home? Do poor...
3. Does welfare-to-work penalize poor women by forcing them to
work outside the home? Do poor women have the same right to stay at
home and care for their children as wealthier women? What about
family values? Does forcing a poor mother to work “defamilize” her
home? Does anyone have the right to receive assistance without
working? Why should society help poor women stay at home with their
children?
4. What are the two labor markets? Are there more than...
C++ exercise ! Change the WEEK‐4 program to work through the GradeBook class. This program has...
C++ exercise ! Change the WEEK‐4 program to work through the
GradeBook class.
This program has some functionality that you can use with the
Gradebook class.
So, please revise Gradebook class so that the class can use
sort() and display() functions of
WEEK4 program .
week-4 program :
#include
#include
using namespace std;
void sort(char nm[][10]);
void display(char name[][10]);
int main() {
char names[10][10];
int i;
for (i=0; i<10; i++)
{
cout << "Enter name of the student : ";...
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