When economists say that monetary policy can exhibit cyclical asymmetry, this simply means that expansionary and restrictive monetary policy do not have the same potential for economic contraction and expansion. This is an imbalance in terms of economic factors in the economy.<span> </span>
Answer:
- Government legal minimum price $4.50 : Price Floor [Binding]
- Government maximum set price $4.50 : Price Ceiling [Non Binding]
Explanation:
Price Ceiling is the maximum mandated price by the government , at which a commodity can be sold in the market. It is binding if price ceiling is set below the free market equilibrium price level. It is usually set to protect interests of buyers.
Price Floor is the minimum mandated price by the government, at which a commodity can be sold in the market. It is binding if price floor is set above the free market equilibrium price level. It is usually set to protect interest of sellers.
'The government has instituted a <u>legal minimum price</u> of $4.50 per gallon for gasoline' is an example of Price Floor. As floor price 4.50 > equilibrium price 4 , it is binding.
'The government <u>prohibits</u> gas stations from selling gasoline for <u>more than</u> $4.50 per gallon' is an example of Price Ceiling. As price ceil 4.50 > equilibrium price 4 , it is non binding.
Answer: NATURAL
Explanation: Pollution is the release of harmful substances or materials into the environment,this can occur through households or industrial Activities. Pollution can also be defined by the presence of materials in very high amount capable of causing hazards. Pollution directly affects the Natural environment and distorts, it creates threats and reflect changes in which macroenvironment.
The manufacturer of a product that injured consumers, razor sharp electronics, has been found guilty of breaking the criminal liability laws that might have resulted in fines or imprisonment.
<h3>How Does Criminal Liability Work?</h3>
Criminal culpability describes the circumstances under which a person may be held accountable for breaking the law. Criminal liability involves both prospective and actual culpability, which implies that a person may be charged with and punished for either having committed or being suspected of having committed a crime. When it comes to criminal responsibility, the fundamental premise is that the claimed offense has both a mental aspect and a physical element.
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Answer:
a. Calculate the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.8%.
b. Journalize the entry to record the accrual of payroll taxes. If an amount box does not require an entry, leave it blank.
- Dr FICA Social Security expense 6,600
- Dr FICA Medicare expense 1,650
- Dr Federal unemployment tax expense 200
- Dr State unemployment tax expense 1,350
- Cr FICA Social Security payable 6,600
- Cr FICA Medicare payable 1,650
- Cr Federal unemployment tax payable 200
- Cr State unemployment tax payable 1,350
Explanation:
payroll taxes should be:
social security $110,000 x 6% = $6,600
Medicare $110,000 x 1.5% = $1,650
federal unemployment $25,000 x 0.8% = $200
state unemployment $25,000 x 5.4% = $1,350
total = $9,800
Both employees and employers must pay equal amounts of FICA taxes (social security and medicare), but only employees pay unemployment taxes.
