ECON 4070 Final: ECON 4070 York Fall 05 Final Exam
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Economics 4070. 03af : public finance i: bucovetsky time=2 hours. The exam contains two sections, a and b. Section a is worth 40 % of the marks, section b 60 %. Note that there is some choice in each section. A : 40 %( 5 % per question ) Explain brie y the signi cance for the economics of taxation of any 8 of the following. B : 60 % ( 15 % per question ) Discuss brie y: if a person consumes only food and clothing, calculate the excess burden of a unit tax on her clothing consumption, if her preferences can be represented by the utility function. Simons ( or comprehensive ) de nition of taxable income. continued. The basic tax rate is 25 percent. Each individual gets a non refundable tax credit of . There is a non refundable tax credit of for each dependent child.
