When the demand curve shifts to the left and all else is held constant, the equilibrium price <u>falls</u> and the equilibrium quantity <u>falls</u>.
<h3>The types of chart.</h3>
In Economics, there are two main types of chart that can be used to illustrate the relationship between the total quantity of goods or services that are demanded by consumers and the total quantity of goods or services that were supplied by a manufacturer (producer) at a particular price and these include the following:
<h3>What is an
equilibrium?</h3>
An equilibrium can be defined as the point on a supply and demand chart where the demand curve and the supply curve intersect.
In conclusion, the equilibrium price and the equilibrium quantity would <u>fall</u> when the demand curve shifts to the left and all else is held constant.
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If your income is $40,000 and your income tax liability is $5,000, your marginal tax rate is: b. 12.5 percent.
Using this formula
Marginal tax rat=Tax payable/Taxable income×100
Where:
Tax payable=$5,000
Taxable income=$40,000
Let plug in the formula
Marginal tax rate=$5,000/$40,000×100
Marginal tax rate=12.5%
Inconclusion if your income is $40,000 and your income tax liability is $5,000, your marginal tax rate is: b. 12.5 percent.
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The question that corporate strategy helps managers understand is where should firm compete?
<h3>What is corporate strategy?</h3>
It should be noted that corporate strategy simply means a unique plan that helps a firm gain competitive advantage over others.
In this case, the question that corporate strategy helps managers understand is where should firm compete? This is important for the growth of the firm.
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Answer:
Disability
Explanation:
Disability insurance offers protection against the loss of income due to disability or sickness. This insurance policy provides income to the insured if they are unable to work as a result of a disability or serious illness. Disability insurance coverage is available from private insurance companies and government-backed programs.
Answer:
The Solow model basically states that as more rural and backward economies start to develop, they will use more intensively their cheap labor and savings for investment more than already developed nations, and convergence between rich and poor nations will eventually occur.
Explanation:
The Solow growth model is an exogenous model of growth that tries to examine the changes in the level of output in an economy as a result of some changes in the economy. The changing conditions are; population, rate of savings and technological advancement. The Solow model named after Robert Solow who was a Nobel-prize economist winner, formed the foundation for modern theories of economic growth. Solow's growth models has a variety of assumptions as shown;
1. Rate of population growth is constant
2. The proportion of savings in the economy is constant.
3. The same technology is utilized by all companies in the economy for production.
4. The capital accumulation equation forms a relationship between; Present capital stock, future capital stock, the rate of capital depreciation, and level of capital investment.
Solow's model implied that as more rural and backward economies start to develop, they will use more intensively their cheap labor and savings for investment more than already developed nations, and convergence between rich and poor nations will eventually occur.
