Economics Answers

Suppose market demand is given Q_d=a-bp as and market supply is given as, Q_s=c+dp and then find the following

o  Equilibrium price

o  Equilibrium quantity

o  Price elasticity of demand at equilibrium

o  Price elasticity of supply at equilibrium 

What do you mean by a multiplier? Explain and derive its formulation in a 4-

sector Keynesian model. Highlight and illustrate all the multiplier properties,

interpretations and graphical representations in your analysis.

The demand and supply equations for a commodity (in a free market) are given as;

Qd = 10 - 2p

As = 4p - 8

a. Given that p is in naira, Qd and Qd are in kg. Determine

(a) the equilibrium price and

(b) the equilibrium quantity

b. (i) if the price (p) were to be N4.00, what will be excess supply?

(ii) if the price were fixed at N1, what will be the excess demand?

"Contrast penalties vs. legalizing and taxing illegal drugs from the fairness perspective (refer to the two principles of fairness)". 

Which of the following is/are correct regarding the distinction between macroeconomics and microeconomics?

a) salaries paid to checkers employees is an example of a macroeconomics variable

b) an import by auto spares of a new machine for painting cars is an example of a microeconomic variable

Discuss entrepreneurial education as a means to address unemployment in South Africa

A. Compute for the tax dues on compensation and business income.

1. Ratsa Man, is the financial analyst of PAYT Company. He earned annual compensation in 2019 of 1,800,000.00, inclusive of 13th month and other benefits in the amount of 130,000.00 but net of mandatory contributions to SSS and Philhealth. Aside from employment income, he is engaged in a trading business, with gross sales of 2,800,000- His cost of sales and operating expenses are 1,200,000.00 and 800,000.00, respectively, and with non-operating income of 50,000.00.

A. In 2020, DRP Company has two employees- Bong Ga and Bato Din. Bong and Bato's gross monthly compensation is 60,000 and 70,000 respectively (net of mandatory contributions). Both are paid on the 30th of the month.Compute for the annual income tax of Bong and Bato supposed that DRP Company withholds periodically.

A. Compute for the monthly income tax payroll deductions of Bong Ga and Bato Din.

1. In 2020, DRP Company has two employees-Bong Ga and Bato Din. Bong and Bato's gross monthly compensation is 60,000 and 70,000 respectively (ndt of mandatory contributions). Both are paid on the 30th of the month.

1. Who are compensation earners?

2. How do you compute taxable income of compensation earners?

3. Who are minimum wage earners? How are they being taxed?