For every hour up to 40 hours of work each week, Mary earns $16/hour, and for any extra hour in excess of 40, she earns $20/hour. The current tax rate that she faces is 20%. She also needs to pay $4 per each hour she works for childcare service while receives $80 in childcare support payments each week. Mary has 16 non-sleeping hours a day (112 hours) in a week. Her non-labour market income is $60 per week. What will be her weekly consumption amount if she works for 58 hours a week?
For every hour up to 40 hours of work each week, Mary earns $16/hour, and for any extra hour in excess of 40, she earns $20/hour. The current tax rate that she faces is 20%. She also needs to pay $4 per each hour she works for childcare service while receives $80 in childcare support payments each week. Mary has 16 non-sleeping hours a day (112 hours) in a week. Her non-labour market income is $60 per week. What will be her weekly consumption amount if she works for 58 hours a week?
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter15: Income Inequality And Poverty
Section: Chapter Questions
Problem 7CQ
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For every hour up to 40 hours of work each week, Mary earns $16/hour, and for any extra
hour in excess of 40, she earns $20/hour. The current tax rate that she faces is 20%. She
also needs to pay $4 per each hour she works for childcare service while receives $80 in
childcare support payments each week. Mary has 16 non-sleeping hours a day (112
hours) in a week. Her non-labour market income is $60 per week. What will be her
weekly consumption amount if she works for 58 hours a week?
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