Answer:
It isn't a violation of the law of demand. It is as a result of the elasticity of demand.
A tax is a compulsory sum levied on a good or service. Taxes increases the price of products. In determining whom should bear the greater burden of the tax between the consumer and the seller, elasticities are usually considered. The party with either a relatively inelastic supply or demand bears the greater burden of tax while the party with the more elastic demand or supply bears less burden of tax.
Demand (supply) is elastic if a small change in price has a greater effect on the quantity demanded (supplied).
Demand (supply) is inelastic if a small change in price has little or no effect on the quantity demanded (supplied).
For good X, consumers have an inelastic demand so they bear more of the tax Burden. As a result of the tax, price increases, yet the quantity demanded doesn't change. Therefore, the total revenue would rise.
For good Y, consumers have an elastic demand. Therefore, they bear less burden of tax. As a result of the increase in price, the quantity demanded falls and total revenue falls.
Explanation:
Question Completion with Options:
A. greater investment.
B. All of the above are correct.
C. higher public saving.
D. a higher interest rate.
Answer:
Other things the same, the effects of an increase in transfer payments on the government's budget deficit will lead to
D. a higher interest rate.
Explanation:
When the government is operating a budget deficit, it means that its spendings are more than its tax revenues. It then resorts to issuing treasury bills and bonds to finance the deficit. This naturally reduces the price of bonds and raises interest rates. With rising interest rates, firms and individuals reduce their spending. The cost of borrowing becomes more expensive than before.
Answer:
$398,000
Explanation:
Data provided
Projected benefit obligation = $4,870,000
Plan assets = $4,472,000
The calculation of pension liability on Noble's balance sheet is shown below:-
= Projected benefit obligation - Plan assets (at fair value)
= $4,870,000 - $4,472,000
= $398,000
Therefore for computing the pension liability on Noble's balance sheet we simply deduct the plan assets from projected benefit obligation.
Answer:
international division
Explanation:
In a functional organization structure, a company is divided into small units based on the roles they perform. For example, a company may have marketing, finance, It and human resources division. The divisions may also be referred to as departments.
Divisions allow for more efficiency as employees with shared skills and knowledge are put together to perform familiar tasks. By creating an international division, Lenon N' Honey will be able to assign specialized employees the duty of in managing its foreign business. The international division will focus on ensuring that the overseas operations are achieving their objectives.
Answer: B. Bait and switch.
Explanation: Bait and switch is a fraudulent sale tactics aim at deceiving customers by placing advertisements for a low price of a product "bait", but when the customer gets there to buy the product it become unavailable then another product with higher price is introduced to the customer " switch".
In this case Biff was made to believe he can get a Nissan for $15,000 but on arrival the salesman claims product sold out and then introduced him to a different truck with higher price which was the salesman plan initially.
