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o-na [289]
2 years ago
14

Tom strongly believes that raising tax rates for the rich is the only way to steer the economy out of a recession because it is

likely to generate greater tax revenue for the government. even when his friend sam pointed at factual information illustrating that the government indeed receives greater tax revenues when tax rates are uniformly low for all americans, tom refused to accept sam's input and change his attitude. interestingly, the input provided by sam further strengthened tom's initial attitude. in this instance, _____ can be said to have occurred.
Business
1 answer:
BabaBlast [244]2 years ago
4 0

The answer to the blank space is a contrast effect. A contrast effect is defined as a psychological bias where individuals are prone to evaluating that a stimulus is more positive because a similar stimulus was previously perceived as negative.

This is what is going on with Tom; despite having been presented information by Sam regarding how low taxes in general creates higher tax revenue, Tom still believes that taxing the rich would generate greater tax revenue to reduce the effect of recession.

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A student wants to determine what type of cereal his classmates like best. he buys three of his favorite puffed rice cereals and
FrozenT [24]

The answer is D The students conclusion shows experimental bias

3 0
3 years ago
in the budget 2013-2014 the government proposed to raise the excise duty on cement. it also proposed to raise the income tax on
podryga [215]

Worried by falling stock prices and plunging sales, cigarette makers are lobbying hard to prevent the government from hiking excise duty for the third straight year. Industry body, The Tobacco Institute of India in its budget submission to the finance ministry has requested the government to maintain the current duty on cigarettes and reduce duty on the smaller size sub-65 mm length filter to Rs 200 per thousand sticks from Rs 669 per thousand cigarettes to allow the industry

5 0
2 years ago
Huai takes out a $3,600 student loan at 6.6% to help him with 2 years of community college. After finishing the 2 years, he tran
Alja [10]

Answer:

a. The monthly payment on loan 1 is $76.03.

b. The monthly payment on loan 2 is $411.69.

Explanation:

a. Calculate the monthly payment on loan 1.

To determine the amount of periodic payments, the present value of annuity formula should be used:

PV=P(\frac{1-(1+r)^{-n} }{r} )

Where:

PV= present value

p=periodic payment

i=rate of interest

n=number of periods

We get the data for this exercise:

PV= 3,600 (loan).

p= unknown (we must find this value)

i= 6.6% or 0.066. However, because we need to know the monthly payment, the interest rate should be divided by 12 (0.066 / 12).

n= 4 years and 7 months, that is 55 months.

And we replace in the formula:

3600=P(\frac{1-(1+\frac{0.066}{12})^{-55} }{\frac{0.066}{12} } )

3600=P(\frac{1-(1+0.055)^{-55} }{0.0055} )

3600=P(\frac{1-(0.7395812268)}{0.0055} )

3600=P(\frac{0.2604187732}{0.0055} )

3600=P(47.348867)

Therefore:

P=\frac{3600}{47.348867}

P=76.03

The monthly payment on loan 1 is $76.03.

b. Calculate the monthly payment on loan 2.

We get the data for this exercise:

PV= 11,600 (loan 2).

p= unknown (we must find this value)

i= 7.3% or 0.073. However, because we need to know the monthly payment, the interest rate should be divided by 12 (0.073 / 12).

n= 2 years and 7 months, that is 31 months.

And we replace in the formula:

11600=P(\frac{1-(1+\frac{0.073}{12})^{-31} }{\frac{0.073}{12} } )

11600=P(\frac{1-(1+0.006083)^{-31} }{0.006083} )

11600=P(\frac{1-(0.8286047296)}{0.006083} )

11600=P(\frac{0.1713952704}{0.006083} )

11600=P(28.1761088936)

Therefore:

P=\frac{11600}{28.1761088936}

P=411.69

The monthly payment on loan 2 is $411.69.

8 0
3 years ago
Too much of a good or service is produced when there is a
Alexxandr [17]

Answer:

D

Explanation:

A good has negative externality if the costs to third parties not involved in production is greater than the benefits. an example of an activity that generates negative externality is pollution. Pollution can be generated at little or no cost, so they are usually overproduced. Government can discourage the production of activities that generate negative externality by taxation. Taxation increases the cost of production and therefore discourages overproduction. Tax levied on externality is known as Pigouvian tax.

Government can regulate the amount of externality produced by placing an upper limit on the amount of negative externality permissible

A good has positive externality if the benefits to third parties not involved in production is greater than the cost. an example of an activity that generates positive externality is research and development. Due to the high cost of R & D, they are usually under-produced. Government can encourage the production of activities that generate positive externality by granting subsidies.

A public good is a good that is non excludable and non rivalrous. An example of a public good is a statue in a public park Everyone has assess to the statue and because one person is enjoying the view of the statue does not means another person cannot enjoy the view of the statue

4 0
3 years ago
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PIT_PIT [208]
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