Consider your decision about how many hours to work. a. Draw your budget constraint assuming that you

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Consider your decision about how many hours to work.

a. Draw your budget constraint assuming that you pay no taxes on your income. On the same diagram, draw another budget constraint assuming that you pay 15 percent tax.

b. Show how the tax might lead to more hours of work, fewer hours, or the same number of hours. Explain.

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Principles of economics

ISBN: 978-0538453042

6th Edition

Authors: N. Gregory Mankiw

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Question Posted: Dec 14, 2012 05:53 AM

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Consider your decision about how many hours to work. a. Draw your budget constraint assuming that you

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a Budget constraint BC 1 in Figure shows the budget constraint if you pay no taxes Budget ...View the full answer

Principles of economics

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