Economics Homework Help

1. Based on the readings on income, wealth and inequality, In a three paragraph essay explain one way in which your thinking changed in this section of the course. What caused that change? Why is it important? (my opinion before was that taxes should be lowered)

2. Looking back at your results for the Tax Game, which tax choice made your overall system most progressive? Why? (i will attach my assignment on the game the Tax Game below so you could have an idea what i wrote)

Which choice made your overall system most regressive? Why?

3. Your politician friend wants to do a survey to find out the impact of a tax on wealth held by households in her community. You remember that the survey could be misleading if it interviews only 100 randomly-selected households. Why might this be?

4. Visit the following website and complete all the steps.

http://www.oecd.org/statistics/compare-your-income.htm (Links to an external site.)

What surprised you about the results here? You don’t need to report personal information.

How do these results compare with what you learned about inequality in other countries?

How might these results differ if they looked at wealth rather than income?