Free

Unit 3&4 Micro - Assignment Example

Comments (0) Cite this document
Summary
When talking about taxes levied on products known as sales tax, there are various sources that can levy tax other than state governments such as cities, counties, and district governments. Although the amount vary from one state to other and one locality to the other, it is…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96.8% of users find it useful
Unit 3&4 Micro
Read TextPreview

Extract of sample "Unit 3&4 Micro"

Running head: Macro and Micro-Economics High Tax on Goods, High Level of Imported Goods, and Externality High Taxes on Products When talking about taxes levied on products known as sales tax, there are various sources that can levy tax other than state governments such as cities, counties, and district governments. Although the amount vary from one state to other and one locality to the other, it is possible to stay consumers could be carrying a considerable burden of sales tax at check-out registers based on the locality they are living in. The highest recorded sales tax in the US exists in Alabama where two localities, Birmingham and Montgomery charge 10%. Next comes cities such as Chicago, Glendale located in Arizona, and Seattle in Washington that charge 9.5% at the checkout register. The lowest sales tax in the US is 4.5% in Hawaii and Portland, Oregon, while Anchorage in Alaska does not have any kind of sales tax. What this shows is the rest of the country could pay between 4.5 and 10% showing that sales tax is only part the overall tax structure where, for example, states such as Washington has a sales tax, but it does not have income tax. The table in the appendix shows what kind of sales tax Americans living in the various states are paying showing that the average tax rate could approach 8% and could be considered high (Tax Foundation, 2012).
Do We Have too many Imported Goods in Our Economy?
It is possible to say there are based on the amount the US imports, when compared to the other G8 countries.
Billions
USA
$1,150
Germany
480
UK
330
France
304
Japan
292
China
269
Italy
238
Canada
229
Another indicator to look at might be the US had $558 billion trade deficit with the outside world in 2011 showing that the nation is importing more than it is exporting that reveals there could be foreign made goods flooding the US market. The deficit with China alone accused of flooding the US market with goods made using cheap labor was at $295.5 billion in 1911.
Other sign that Americans are buying more foreign made goods is the manufacturing jobs in the US are disappearing where in 10 years alone 5 million manufacturing jobs might have disappeared. The trade imbalance the US had that was 7 times more than any other nation shows that the American consumers are buying foreign goods more than any other nation. Buying foreign goods hits hard on the local manufacturing where in the US alone, on average 15 manufacturing facilities were closing everyday for the last ten years showing that imported goods had replaced goods produced by such manufacturers. The outcome of heavily relying on foreign made goods had been that at least more than 41% of working age Americans do not have decent jobs, while the majority of new created jobs are low-tech and low-paying. When looking at figures like this it is possible to say that there are many imported goods in the US economy, to the point where they had damaged the local economy to a good extent (Economic Collapse).
An Example of an Externality
Since externalities are incidental outcomes others get while one party is engaged in any kind of economic activity, they could be negative or positive and those who are affected by the outcome might not have direct control over them. One example to cite is making online payments that could have both positive and negative externality. It could make the process easy and secure for buyers and sellers, since it eliminates the time involved until the payment reaches the right party through checks besieged by delays and uncertainty. Its outright positive impact could enable banks to bring down their expenses by laying off staff who were responsible to process the checks, which is a positive externality to the bank. At the same time, some business such as software companies and hardware manufacturers would have a new opportunity that they did not have before.
REFRENCES
Huston Chronicle, Examples of Externalities in a Market, Available on the Web at,
smallbusiness.chron.com/examples-externalities-market-26085.html
Tax Foundation (2012) Sales Tax Rates in Major U.S. Cities) Available online at,
taxfoundation.org/article/sales-tax-rates-major-us-cities
The Economic Collapse, 55 Reasons Why You should Buy Products Made in America, Available on the Web, theeconomiccollapseblog.com/.../55-reasons-why-you-should-buy-products-that-are-made-in-america-this-holiday-season
APPENDIX
City
State
State Rate
Local Rate
Total Rate
Rank
Birmingham (a)
Alabama
4.0%
6.0%
10.0%
1
Montgomery
Alabama
4.0%
6.0%
10.0%
1
Chicago
Illinois
6.25%
3.25%
9.5%
3
Glendale
Arizona
6.6%
2.9%
9.5%
3
Seattle
Washington
6.5%
3.0%
9.5%
3
Phoenix
Arizona
6.6%
2.7%
9.3%
6
Memphis
Tennessee
7.0%
2.25%
9.25%
7
Nashville
Tennessee
7.0%
2.25%
9.25%
7
Tucson
Arizona
6.6%
2.5%
9.1%
9
Mesa
Arizona
6.6%
2.45%
9.05%
10
Baton Rouge
Louisiana
4.0%
5.0%
9.0%
11
New Orleans (b)
Louisiana
4.0%
5.0%
9.0%
11
Scottsdale
Arizona
6.6%
2.35%
8.95%
13
New York
New York
4.0%
4.875%
8.875%
14
Chandler
Arizona
6.6%
2.2%
8.8%
15
Gilbert
Arizona
6.6%
2.2%
8.8%
15
Buffalo
New York
4.0%
4.75%
8.75%
17
Fremont (c)
California
7.25%
1.5%
8.75%
17
Long Beach (c)
California
7.25%
1.5%
8.75%
17
Los Angeles (c)
California
7.25%
1.5%
8.75%
17
Oakland (c)
California
7.25%
1.5%
8.75%
17
Spokane
Washington
6.5%
2.2%
8.7%
22
Tulsa
Oklahoma
4.5%
4.017%
8.517%
23
San Francisco (c)
California
7.25%
1.25%
8.5%
24
Saint Louis
Missouri
4.225%
4.266%
8.491%
25
Oklahoma City
Oklahoma
4.5%
3.875%
8.375%
26
Austin (d)
Texas
6.25%
2.0%
8.25%
27
Corpus Christi
Texas
6.25%
2.0%
8.25%
27
Dallas
Texas
6.25%
2.0%
8.25%
27
El Paso
Texas
6.25%
2.0%
8.25%
27
Fort Worth
Texas
6.25%
2.0%
8.25%
27
Garland
Texas
6.25%
2.0%
8.25%
27
Houston
Texas
6.25%
2.0%
8.25%
27
Irving
Texas
6.25%
2.0%
8.25%
27
Laredo
Texas
6.25%
2.0%
8.25%
27
Lubbock
Texas
6.25%
2.0%
8.25%
27
Plano
Texas
6.25%
2.0%
8.25%
27
San Jose (c)
California
7.25%
1.0%
8.25%
27
San Antonio
Texas
6.25%
1.875%
8.125%
39
Henderson
Nevada
6.85%
1.25%
8.1%
40
Las Vegas
Nevada
6.85%
1.25%
8.1%
40
North Las Vegas
Nevada
6.85%
1.25%
8.1%
40
Arlington
Texas
6.25%
1.75%
8.0%
43
Atlanta
Georgia
4.0%
4.0%
8.0%
43
Aurora (e)
Colorado
2.9%
5.1%
8.0%
43
Philadelphia
Pennsylvania
6.0%
2.0%
8.0%
43
Rochester
New York
4.0%
4.0%
8.0%
43
San Bernardino (c)
California
7.25%
0.75%
8.0%
43
Stockton (c)
California
7.25%
0.75%
8.0%
43
Fresno (c)
California
7.25%
0.725%
7.975%
50
Kansas City (f)
Missouri
4.225%
3.625%
7.85%
51
Minneapolis
Minnesota
6.875%
0.9%
7.775%
52
Anaheim (c)
California
7.25%
0.5%
7.75%
53
Chula Vista (c)
California
7.25%
0.5%
7.75%
53
Cleveland
Ohio
5.5%
2.25%
7.75%
53
Irvine (c)
California
7.25%
0.5%
7.75%
53
Riverside (c)
California
7.25%
0.5%
7.75%
53
Sacramento (c)
California
7.25%
0.5%
7.75%
53
San Diego (c)
California
7.25%
0.5%
7.75%
53
Santa Ana (c)
California
7.25%
0.5%
7.75%
53
Reno
Nevada
6.85%
0.875%
7.725%
61
Saint Paul
Minnesota
6.875%
0.75%
7.625%
62
Denver
Colorado
2.9%
4.72%
7.62%
63
Colorado Springs
Colorado
2.9%
4.5%
7.4%
64
Modesto (c)
California
7.25%
0.125%
7.375%
65
Wichita
Kansas
6.3%
1.0%
7.3%
66
Charlotte
North Carolina
4.75%
2.5%
7.25%
67
Bakersfield (c)
California
7.25%
0.0%
7.25%
67
Durham
North Carolina
4.75%
2.25%
7.0%
69
Fayetteville
North Carolina
4.75%
2.25%
7.0%
69
Fort Wayne
Indiana
7.0%
0.0%
7.0%
69
Indianapolis
Indiana
7.0%
0.0%
7.0%
69
Jersey City
New Jersey
7.0%
0.0%
7.0%
69
Lincoln
Nebraska
5.5%
1.5%
7.0%
69
Newark
New Jersey
7.0%
0.0%
7.0%
69
Omaha (g)
Nebraska
5.5%
1.5%
7.0%
69
Hialeah
Florida
6.0%
1.0%
7.0%
69
Jacksonville
Florida
6.0%
1.0%
7.0%
69
Miami
Florida
6.0%
1.0%
7.0%
69
Pittsburgh
Pennsylvania
6.0%
1.0%
7.0%
69
Saint Petersburg
Florida
6.0%
1.0%
7.0%
69
Tampa
Florida
6.0%
1.0%
7.0%
69
Albuquerque (h)
New Mexico
5.125%
1.8745%
6.9995%
83
Columbus (i)
Ohio
5.5%
1.25%
6.75%
84
Greensboro
North Carolina
4.75%
2.0%
6.75%
84
Raleigh
North Carolina
4.75%
2.0%
6.75%
84
Toledo
Ohio
5.5%
1.25%
6.75%
84
Winston-Salem
North Carolina
4.75%
2.0%
6.75%
84
Cincinnati
Ohio
5.5%
1.0%
6.5%
89
Orlando
Florida
6.0%
0.5%
6.5%
89
Boston
Massachusetts
6.25%
0.0%
6.25%
91
Baltimore
Maryland
6.0%
0.0%
6.0%
92
Boise
Idaho
6.0%
0.0%
6.0%
92
Des Moines
Iowa
6.0%
0.0%
6.0%
92
Detroit
Michigan
6.0%
0.0%
6.0%
92
Lexington
Kentucky
6.0%
0.0%
6.0%
92
Louisville
Kentucky
6.0%
0.0%
6.0%
92
Washington
District of Columbia
6.0%
0.0%
6.0%
92
Milwaukee
Wisconsin
5.0%
0.6%
5.6%
99
Madison
Wisconsin
5.0%
0.5%
5.5%
100
Arlington (c), (j)
Virginia
5.0%
0.0%
5.0%
101
Chesapeake (c)
Virginia
5.0%
0.0%
5.0%
101
Norfolk
Virginia
5.0%
0.0%
5.0%
101
Richmond (c)
Virginia
5.0%
0.0%
5.0%
101
Virginia Beach (c)
Virginia
5.0%
0.0%
5.0%
101
Honolulu (h), (k)
Hawaii
4.0%
0.5%
4.5%
106
Anchorage
Alaska
0.0%
0.0%
0.0%
107
Portland
Oregon
0.0%
0.0%
0.0%
107 Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Unit 3&4 Micro Assignment Example | Topics and Well Written Essays - 500 words”, n.d.)
Unit 3&4 Micro Assignment Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/macro-microeconomics/1618283-unit-34-micro
(Unit 3&4 Micro Assignment Example | Topics and Well Written Essays - 500 Words)
Unit 3&4 Micro Assignment Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/macro-microeconomics/1618283-unit-34-micro.
“Unit 3&4 Micro Assignment Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/macro-microeconomics/1618283-unit-34-micro.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Unit 3&4 Micro

Alhajry English Unit 4

...Alhajry English Unit 4 Part I: Write Cause and Effect Online learning, also called electronic learning or eLearning,is a new academic concept that refers to the use of the internet to access academic services in distant academic institutions. Online learning is a modern concept brought about by the invention and the subsequent use of the internet. Currently, students can peruse courses in universities in different countries through electronic learning. Among the reasons that contribute to the growth of online learning are the use of the internet and its ability to overcome the geographical barriers, as a result of the internet people do not have to travel to classes since they can access the same from...
4 Pages(1000 words)Essay

Unit 4 Discussion Board

...Running head: HOW MANAGED CARE IS LIKELY TO IMPACT SUPPLY OF HEALTHCARE PROVIDERS IN THE UNITED S Unit 4 Discussion Board University Unit 4 Discussion Board Managed care has an impact on the long-term supply of healthcare providers in the United States in a number of areas. This discussion will touch on the characteristics of different types of provider organizations and later on evaluate current developments in the healthcare industry. There is a long-term supply of healthcare providers in the United States as large numbers of IMG (Foreign-trained physicians) continue to enter the country. There are number of reason that causes this migration that include; A number of physicians are still being distributed in non-primary care... ...
2 Pages(500 words)Essay

INTRODUCTION TO CIVILIZATION-unit 4, question #3

...history (3rd ed.). Upper Saddle River, N.J.: Pearson Prentice Hall. Question #3 Explain the impact of humanism on Christian beliefs in the fifteenth century In the fifteenth century, Christianity had already become an extremely powerful religion with extraordinary influence. Within the same time period, however, the Renaissance was just beginning to take shape. The Renaissance provided a unique contrast in that it focused on education, culture, and philosophy. One such concept that became popular during this time and influenced Christianity greatly was humanism. According to Howard Spodek, author of the book entitled The World’s History, humanism was a philosophy centered on the idea that “the proper study of man is...
2 Pages(500 words)Essay

Unit 3

...technicalities. References Cooper, M. M., & Sandi-Urena, S. (2009). Design and Validation of an Instrument to Assess Metacognitive Skillfulness in Chemistry Problem Solving. Journal of Chemical Education, Vol 2(No. 86), pg 240- 121. Lawrence, L. (2011, October/‌November). Work Engagement, Moral Distress, Education Level, and Critical Reflective Practice in Intensive Care Nurses. Nursing Forum, Vol. 46 (Issue 4), p256-268, Meadows, K. (2003). So do you want to do Research? An introduction to Qualitative Methods . British Journal of Community Nursing, Vol 8(No. 11), p1-p10. Raanaas, R. K., Grindal, P., & Hartig, T. (2012, January). Health benefits of a view of nature through the window: a quasiexperimental study of...
2 Pages(500 words)Essay

Unit 1 Micro

...Micro Introduction In common, anytime unrestricted market is banned from setting charges in symmetry, supply and demand will not equal, and excesses or deficiencies will transpire. When a price floor is set, the lesser limit on price is beyond that clearing charge, and supply surpasses demand, so there will be an excess. In circumstance of setting a price ceiling, a higher frontier is set on the price, below which the economy would logically want. Thus, demand is greater than what it ought to be, and supply lesser, because manufacturers refuse to sell at a loss. Consequently, there will be excess demand, or shortages (Mankiw 2011). This will occur in any sector of the economy, ranging from rent controlled houses, to...
2 Pages(500 words)Assignment

Micro hydro power design

...since they will be able to store 2.64kW of power. The table below shows the price of the project. Cost Estimation Type Part Size Qty Unit cost Total Piping Tee 4" 1 $3.67 $3.67 Pipe 4" 1 $8.91 $8.91 Elbow 4" 5 $3.17 $15.85 Bushing 4"/2" 4 $5.76 $23.04 Bushing 2"/1" 4 $1.76 $7.04 Valve 2" 3 $12.77 $38.31 Pipe 2" 1 $6.14 $6.14 Generator ES&D Stream Engine 1000W 1 $2,000.00 $2,000.00 Diversion Load Ohmite DC 300 300W 4 $32.50 $130.00 Breaker Flexware 250 Enclosure 1 $74.29 $74.29 Homeline 100A 1...
12 Pages(3000 words)Case Study

Unit 4

...Selz’s Analysis on Kandinsky’s Aesthetic Theory Kandinsky’s theory of non-objective art did not just come easily but has been formulated for a long time through series of essays such as “Concerning the Spiritual in Art” and “Uber die Formfrage” (Selz 127). 2. There have been art materials that showed the characteristics of non-objective art: Color Disks by Delaunay, abstractions by Arthur Dove and some works of Picabia and Kupka (127). 3. The “Principle of Uncertainty” by Heisenberg which means that there exists a limit to which people can scrutinize the nature (128). 4. People cannot fathom Kandinsky’s idea because his style of writing is difficult to understand due to its “didactic style” (128). 5....
2 Pages(500 words)Coursework

Unit 3

... Social Shadowy Lines That Still Divide The article was written in 2005. At this time, divisions were highlysignificant in the society. The society and class difference of the rich and poor was massive and clearly stipulated. In addition, the society perceived social class as an important aspect as it was quick to stipulate the features of each class level (Scott & Leonhardt 118). However, this trend has since changed. The social perception of class has become more sensitive. The society has realized the need to minimize the gap between the rich and the poor. At the time the article was written, the illusion of class mobility was in existence since leaders created the assumption that strategies were put in place to minimize class... Social...
2 Pages(500 words)Essay

Unit 4

...Conflict Resolution and Management of Affiliation: Conflict Resolution and Management Conflicts remain the greatest challenge that organizations face today. Conflicts refer to situations of disagreements between individuals or parties over certain issues or activities. Ideally, conflicts in projects are inevitable considering that projects involve the participation of individuals with varied backgrounds, cultures, ideologies, and orientations in the completion of a particular task. Conflicts in organizations lead to both personal growths of individuals and professional growth of the organization as opposing groups are energized into action while the top management can identify problems within the organization for appropriate... Resolution and ...
2 Pages(500 words)Admission/Application Essay

Unit 4

...Unit 4 Institute Affiliation: Contract Type There are several contract types that businesses and business entities can enter into to do or accomplish various economic goals. Among these contract types, three are feasible for Carnival Services business model. The three contract types suitable for application in the venture business include: FPI: This contract type is more concerned with the regulation and management of costs in order to achieve sustainable profits. However, costs in this contract type are uncertain with a considerable degree for cost reduction. With reference to the Carnival business, the FPI is suitable as profits are earned with respect to negotiated cost and the target cost (total). In...
1 Pages(250 words)Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Unit 3&4 Micro for FREE!

Contact Us