Tax brackets are adjusted yearly by the Internal Revenue Service, also known as the IRS. They are adjusted yearly because the economy in the United States has inflation each year. The IRS will then adjust the tax brackets upwards for the citizens. The IRS will adjust things like the standard deduction, personal exemptions, etc for the cost of living. The taxes sometimes will stay the same, but the person or corporation will go into a different tax bracket. The correct answer will be B: Tax Brackets.
Answer:
1) 12/3= 4 gallons of milk per hour is her real wage
Her nominal wage is $12 per hour, we then divide her nominal wage by the price of gallon of milk in order to find out how many gallons of milk can she afford from one hour of work. 12/3=4 so 4 gallons of milk is her real wage per hour.
2) Workers and firms negotiate compensation packages and agree on a Nominal wage with those expectations in mind, as nominal wage is the actual amount of money that they get. If the price level turns out to be lower than expected, a workers nominal wage is the same because he will be paid the same amount of money, but his real wage will be higher than expected, because real wage refers to the purchasing power of your money and when price levels are lower than expected the worker can buy more goods and services from the same nominal wage, which means that his real wage is higher than expected
3) Her Nominal wage increased from 12 to 12.36 which is
(12.36-12) =0.36
0.36/12= 3%
So her Nominal wages increased by 3%
If inflation was 3% the price of milk would have been (1.03*3)= 3.09 but because inflation was 2% the price of milk was (1.03*3) = 3.06 so in order to find out the increase in real wage we will subtract inflation from the increase in nominal wage
Increase in nominal wage 3%
Inflation 2%
Real wage increase =3-2
= 2% real wage increase.
Explanation:
Answer:
L = 0
K = 535.36
Q = 99,577 units
Explanation:
Q = 118L + 186K
Budget line: C = L.PL + K.PK
5,889 = 16L + 11K
This is a linear production function, indicating labor and capital are perfect substitutes. Optimal bundle lies on one of the corner points on isoquant.
From budget line,
When L = 0, K = 5,889/11 = 535.36
Q = 118*0 + 186*535.36 = 0 + 99,576.
96 = 99,577 units
When K = 0, L = 5,889 / 16 = 368.06
Q = 118*368.06 + 11*0 = 45,555.08 + 0 = 45,555 units
So, output is maximized when L = 0 and K = 535.36, since Q = 99,577 units (optimal labor).
Hope this helps!
1.00000 CNY = 0.14418 USD
20 CNY == 2.88 USD
Nowadays, the name "Yuan" typically refers to the main unit of the People's Republic of China's currency, the renminbi (RMB). [Banknotes in RMB range in value from one Yuan to one hundred Yuan. Particularly in international contexts, it is also used as a synonym for that money; the ISO 4217 standard code for the renminbi is CNY, which stands for "Chinese yuan." (Using sterling to refer to British currency and the pound as the unit of account is a similar situation.)
Yuán literally means a "round thing" or "round coin" in Standard (Mandarin) Chinese. A silver round coin known as the yuan was used throughout the Qing Dynasty.
To learn more about Chinese yuan from the given link.
brainly.com/question/14350438
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