PS1 - Econ 3140 Spring 2010 Problem Set 1 Due Monday...

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Econ 3140 Spring 2010 Problem Set 1 Due Monday February 8 (on lecture time, late homeworks may not be accepted) 1. Question Four from Abel et.al., Chapter 1, analytical problems Which of the following statements are positive in nature and which are normative? (a) A tax cut will raise interest rates. (b) A reduction in the payroll tax would primarily bene±t poor and middle class workers. (c) Payroll taxes are too high. (d) A cut in the payroll tax would improve the President²s popularity ratings. (e) Payroll taxes should not be cut unless capital gains taxes are cut also. 2. Question Two from Abel et.al., Chapter 1, numerical problems In a recent issue of the Survey of Current Business , ±nd the data section and the data section entitled "Selected NIPA Tables". In Table 1:1:5, "Gross Domestic Product", ±nd the data on gross domestic product (a measure of total output), exports, and imports. In Table 3:2, "Federal Government Current Receipts and Expenditures", ±nd the data on the government²s total receipts (taxes) and expenditures. These tables from the
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PS1 - Econ 3140 Spring 2010 Problem Set 1 Due Monday...

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