Answer:
C. adopt measures to fix wages and prices.
Explanation:
Between 1775 - 1783, the thirteen (13) colonies in Congress warred against the British because of its lack of colonial representation and the objection of the British to the direct taxation method introduced by the parliament. This war was known as the American revolutionary war or American war of independence.
Consequently, this war resulted in a deep economic crisis and inflation for the people of America.
To deal with this wartime economic crisis in 1779, Congress urged states to adopt measures to fix wages and prices such as refusal to issue continental dollars but resort to the issuing of tax adjustment notes, loan office certificates, warrants, quartermaster notes, etc.
Based on the international trade concept, comparative advantage is the ability to produce goods at a cheaper cost than competitors, and it is important in international trade because it enhances resource allocation.
<h3>What is Comparative Advantage?</h3>
Comparative advantage is a term that is used to describe the country's capacity to manufacture a specific good or service at a lower opportunity cost than its trading partners.
Usually, Comparative advantage is utilized to explain why companies, countries, or individuals can profit from the trade.
<h3>Importance of International trade</h3>
- It helps countries to allocate resources for more gains
- It helps countries to produce goods at a cheaper cost
- It helps the country to specialize in production sectors they have more advantages.
- It helps countries to improve their exportation income.
Hence, in this case, it is concluded that comparative advantage is beneficial to countries when it comes to production in international trade.
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Answer: Philippine Deposit Insurance System.
Explanation:
It is a private equity deposit insurance corporation created in 1963. Corporation was established to promote and safeguard the interests of the public who take out insurance coverage on all insured deposits. The corporation aims to strengthen the mandatory deposit insurance system. The mission of the corporation is to create greater confidence in the country's banking system and create greater security for all service users. Deposit Insurance provides a maximum deposit insurance coverage of PHP 500,000 per depositor per bank. The Deposit Corporation is a corporation primarily through banks' estimates at an annual fixed rate of 1.5% of 1% of their total deposit liabilities. All accounts maintained by the bank are covered by deposit insurance. PDIC exists for reasons to protect their depositors by providing them with deposit insurance services. All member banks of this group provide these services.
Answer:
1. True. The tax rates are higher, the greater one's income
Explanation:
1. True. Progressive tax is defined as a tax whose rate increases as the payer's disposable income increases. The implication is that ,individuals who earn high incomes have a greater proportion of their incomes taken to pay tax.
A perfect example of progressive tax is income tax whose rate is tied directly to personal income income.
2. False. The rate increases as the disposable income of the tax payer increases under progressive tax
3.False. Entrepreneurial income will be taxed after adjusting for allowobale and non-allowable income and expenses and relevant loss relief.
4. False. The revenue realised from progressive taxes are utilized by the government as stipulated in the budget.
