Answer: $26,600.
$26,600 = $24,000 + ($1,300 × 2). The married joint standard deduction is increased for $1,300 for each blind and/or taxpayer age 65 by year-end.
Explanation:
Answer:
125 pounds
Explanation:
The computation of the number of pounds of ground beef will be in your new recipe is shown below:
= Number of pounds contained in ground beef × conversion factor
= 25 pounds of ground beef × 5
= 125 pounds
By multiplying the number of pounds with the conversion factor we can get the number of pounds of ground beef
Answer:
creates a shortage
Explanation:
Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.
Because price is set below equilibrium price, demand would outstrip supply and this would lead to a shortage
Effects of a price ceiling
1. It leads to shortages
2. it leads to the development of black markets
3. it prevents producers from raising price beyond a certain price
4. It lowers the price consumers pay for a product. This increases consumer surplus
Answer:
Multiplier = 4
Explanation:
Government spending multiplier denotes the multiplier by which the GDP increases in response to increase in government expenditure.
Government spending has multiple impact depending on the society's overall propensity to consume.
Suppose if government spends USD 1, and consumer A receives USD 1, spends 0.75 out of this USD 1, consumer B receives this USD 0.75 and he also spends 75% of this USD 0.75 he received, this cycle continues until the spending reduces to nil.
Therefore spending multiplier is used to calculate total impact of each USD spent by government. Following is the formula for multiplier
Multiplier = 1 / (1 - marginal propensity to consume)
Multiplier = 1 ( 1 - 0.75)
Multiplier = 4
33,000 - 4,300 equals 28,700.
28,700 + 3,300 equals 32,000.
32,000 + 5,300 equals 37,300
37,300 units in year-end inventory
