Answer: If you tax something, you will get less of it; if you subsidize an activity, you will get more of it
Explanation:
Taxes are the levy that governments impose on people or firms. Subsidies are financial aid to companies in order to boost production and reduce price.
It should be noted that if you tax something, you will get less of it; if you subsidize an activity, you will get more of it. For example of an income is taxed, the owner of the income will geta lesser amount as tax will be removed.
The word "produce" involves the way the product is made and also the materials used. For this item, I would go with the third choice, "Marco uses locally harvested wood from a sustainable tree farm to make his products". This describes the materials used.
Answer:
Accounting profit = $45,000
Economic profit = $5,000
Explanation:
The computation of accounting profit and economic profit is shown below:-
Accounting profit = Sales - External expenses
= $75,000 - $30,000
= $45,000
Economic profit = Accounting profit - Implicit cost
= $45,000 - $40,000
= $5,000
Therefore for computing the accounting profit and economic profit we simply applied the above formula so that each one could arrive
It is False.
No matter which states the employee lives, the amounts withheld from each employee for social security and medicare do not vary by state. The present tax rate for social security for employers and employees is 6.2% and the present current rate of medicare is 1.45% for both the employer and employee.
Employers are typically required to withhold Social Security and Medicare taxes from an employee's paycheck and pay the employer's share of those taxes.
The Social Security Tax and the Medicare Tax have different rates, and only the Social Security tax has a salary cap. The base salary ceiling is the maximum taxable salary in the year. Determine the withholding amount for Social Security and Medicare contributions by multiplying each payment by the employee's tax rate.
To learn more about social security and medicare from given link
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