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grigory [225]
2 years ago
5

Suppose an economist tests the theory that when the price of leather increases, fewer pairs of shoes are produced. He observes m

ore shoes being produced when the price of leather increases. At the same time, a new production technology allowed for more shoes to be produced in less time. He has
Business
1 answer:
Anastasy [175]2 years ago
3 0

"Suppose an economist test the theory that when the price of leather increases, fewer pairs of shoes ..."His observations invalidate the testability of his hypothesis since they go against the ceteris paribus premise. This is further explained below.

<h3>What is an economist?</h3>

Generally, an economist is simply defined as a professional in economics.

In conclusion, To illustrate, "let's say an economist investigates the hypothesis that higher leather costs lead to fewer shoe purchases." Since his findings contradict the ceteris paribus premise, his hypothesis cannot be tested.

Read more about economist

brainly.com/question/14299791

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$3878.55

Explanation:

Step 1 :

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It is given that the social security tax is 6.2% up to $128,400. Kristy's earnings of 50,700$ does not exceed the threshold $128,400, hence 6.2% of her entire income is subject to social security withholding.

Social security withholding = 6.2% of 50,700 = 6.2*50700/100 = $3143.40

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Medicare withholding = 1.45% of 50,700 = 1.45*50700/100 = $735.15

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