For the answer to the question above asking at $5 a bushel, there is an excess supply of wheat. is this price above or below the equilibrium price?
I think it is a price floor above the equilibrium price.The price is too high so that the suppliers will produce more than the consumption.
Answer:
The ultimate goal of society is to promote good and happy life for its individuals. It creates conditions and opportunities for the all round development of individual personality. Society ensures harmony and cooperation among individuals in spite of their occasional conflicts and tensions.
Answer:
All of the above
Explanation:
Deficit in the budget situation where government expenditures are more than government receipts.
Following are the implications of budget deficit
1. It may result in debt trap. As a result the chances of default may increase.
2. It may cause inflationary situation in the economy
3. It increases our future obligations.
4. Deficit in the government budget may result in crowding out effect. It is a situation when interest rate in the economy Increase and private investment spending reduces. It dampens the initial Increase of total investment spending.
Budget deficits occur when government spending exceeds tax revenue. Over an extended period of time, budget deficits can be problematic.
For one thing, budget deficits can lead to crowding out, where increases in government spending lead to corresponding decreases in private investment spending.
Deficits are typically financed with borrowed money. This implies that deficits, in the current time period, increase costs that must be paid in future time periods. Hence, increasing the burden on the economy in the future.
Persistent budget deficits also increase the probability of a nation not being able to repay their debts, which is called default.
Consequently, all of the items here are concerns associated with persistent budget deficits.
Answer:
In any suit or proceeding
Explanation:
In any claim or procedure where the burden falls on the taxpayer to prove that such assumption or acquisition is not treated as money received by the taxpayer, said charge shall not be considered sustained unless the taxpayer supports it because of the clear preponderance of the evidence.
