Please help me with my assignment.

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Please help me with my assignment.
Answered Same DayDec 07, 2021

Answer To: Please help me with my assignment.

Rajeswari answered on Dec 08 2021
144 Votes
Part a:
1. Here the household has one parent and one child.
Labour income of the parent per week=8
0 hrs*10/- =800$
Non labour income per week = 50$
Since labour income exceeds 700 ineligible for tax credit.
Thus graph says fixed total income no impact of tax credit.
2. Here the parent does not earn meaning labor income is 0
Tax credit =0.1*LI is also 0 So no effect at all.
0 income and 0 credit of tax.
3. If the parent and parner marries, partner becomes another parent of the child. Hence he is eligible for tax credit.
Thus tax credit = 0.1(400) = 40 dollar extra income.
Marriage has a lot of commitment and compromises . Just because 40 dollar extra income, marriage cannot be decided
4. Worked for 50-60 hours per week. This means income is 500-800 dollars. If he has child, then 0.1(500-800) i.e. 50 to 80 dollars credit he would get
Average income is 650 and average tax credit is 65 shown above.
5....
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