3A Human Resources and Economics Applications (Answers to Exercises)

Chapter 3: Human Resources and Economics Applications (answers to exercises)

  • 3.1 Gross Earnings

  1. a. $5,000; b. $2,500; c. $2,307.69; d. $1,153.85
  2. $1,277.21
  3. $57,600
  4. $6,110
  5. $468.24
  6. $188
  7. $3,767.58
  8. $19,162.50
  9. $16,860
  10. $850
  11. Offer #2 Best = $3,412.50; Exceeds Offer #1 = $312.50; Exceed Offer #3 = $67.50
  12. $5,902.89
  13. $1,454.38
  14. $43,550.45
  15. $168,000
  16. 2%
  17. Option 1 = 1.47%; Option 2 = 1.05%
  18. $3,342.35
  • 3.2 Personal Income Tax

  1. $3,356.25
  2. $30,640.00
  3. $18,261.08
  4. $6,645.12
  5. $9,513.63
  6. $4,964.14
  7. $10,376.55
  8. $18,526.29
  9. $12,121.55
  10. $4,604.80
  11. −$817.22
  12. British Columbia is $4,025.28 better
  13. Saskatchewan – $78,120.88 (LOW); Ontario = $81,278.61 (HIGH); NWT =$81,081.29; Difference = $3,157.73
  14. New Brunswick = $62,322.77 (MORE); Nunavut = $62,240.61
  15. Federal =$5,808.87; Provincial =$2,692.38; Total = $8,501.25
  16. Federal = $1,930.95; Provincial =$1,537.82; Total =$3,468.77
  17. Federal = $380.56; Provincial =$262.50; Total = $643.06
  18. 5.5097%
  19. $46,846.57
  20. Nunavut = $46,434.59 (HIGH); Quebec = $40,659.97 (LOW) which is−12.436%
  • 3.3 Indexes

  1.  103.7
  2. $25,372.53
  3. 100
  4. $385.29
  5. 92.6784%
  6. 125.0
  7. $37,500
  8. $31,000
  9. 107.1
  10. Toronto=122.6; Montreal=145.6
  11. $53,850.80
  12. $105.22
  13. $3,934.61
  14. 3.6256%
  15. $325,167.63
  16. 8.7853% then 8.8743%
  17. $72,968.21
  18. $193,934.64
  19. 100.0 (base year), 140.1, 198.4, 132.4, 206.3
  20. a. 95.2381%, 91.2409%, 86.3558%, 85.6164%, b. $36,225; $37,812; $39,951; $40,296

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