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. $1,371.90
  2. $29,869.88
  3. $
  4. $5,267.91
  5. $7,505.50
  6. $4,121.06
  7. $
  8. $14,
  9. $
  10. $4,760.00
  11. −$506.20
  12. British Columbia is $ better
  13. Saskatchewan = $ (LEAST); Ontario = $; NWT = $; Difference = $
  14. New Brunswick = $; Nunavut = $ (MORE)
  15. Federal =$; Provincial =$; Total = $
  16. Federal = $; Provincial =$; Total =$
  17. Federal = $308.46; Provincial =$245.78; Total = $554.24
  18. 4.6112%
  19. $44,943.39
  20. Nunavut = $ (HIGH); Quebec = $ (LOW) which is −8.279% difference relative to high or 9.0265% relative to low

  • 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. $62,633.66
  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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Fundamentals of Business Math Copyright © 2021 by Ana Duff, adapted from work by J. Olivier and D. Lippman is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.

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