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marissa [1.9K]
2 years ago
6

The language of price controls

Business
1 answer:
mel-nik [20]2 years ago
4 0

Answer:

1) The government prohibits gas stations from selling gasoline for more than $3.40 per gallon.  

This statement is an example of price ceiling as the gas stations cannot raise their price above $3.40 but can sell it at any price lower than the ceiling price of $3.40. This is binding

2) Due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from doing so. This is neither a price ceiling or floor as government isn't directly affecting the price with their policy

3) The government has instituted a legal minimum price of $3.40 per gallon for gasoline. This is an example of price floor and is binding. The reason it is a price floor is because the petrol stations cannot charge a price below $3.40 but can charge any price above the floor price of $3.40

Explanation:

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Selene, a new recruit at Yellow Systems Inc., was encouraged to join the Hispanic Help Group (HHP) to discuss the challenges and
il63 [147K]

Answer:employee support group.

Explanation:employee support group are voluntary, employee-led associations where team members join together in light of common interests, backgrounds, or demographics.

A group of employees that join together in the workplace based on shared interests, backgrounds, or life experiences. Employee resource groups help provide support for both career and personal development.

5 0
3 years ago
On August 1, Steffen Computers, Inc. purchased thirty computer chips on account from a company located in Taiwan for 520,000 Tai
Vsevolod [243]

Answer:

(C) debit to Foreign-Currency Transaction Loss-$1040

Explanation:

Foreign currency related Financial assets and financial liabilities are usually revalued with any difference as a result of the exchange rates posted as a gain or loss in the income statement.

On transaction date, cost of assets

= 520000 * $0.034

On payment date, the amount paid

= 520000 * $0.036

The amount paid is higher than the liability recorded before hence the difference is recognized as a loss on foreign exchange.

= 520000 * $0.036 - 520000 * $0.034

= $1040

4 0
3 years ago
Tyrrell's small lumber company aims to fulfill the economic foundation of business. What first step must his company take to ach
olga nikolaevna [1]

The  first step must his company take to achieve this goal is: earn profit.

<h3>What is profit?</h3>

Profit is what a person gain from the sell of products after deducting their expenses and other production cost.

In order for the company to achieve their set goals which is to fulfil the economic foundation business they need to first of all earn profits from their business.

Therefore the company needs to earn profit.

Learn more about profit here:brainly.com/question/24553900

#SPJ1

8 0
2 years ago
What does the communication technique "slow down and be patient" mean
vladimir2022 [97]

Answer:

Slow your speech so the person has time to think about each word you say.

Explanation:

These are the options for the question

Avoid looking at your watch when giving care. Slow your speech so the person has time to think about each word you say. Slow your body movements and wait as long as it takes for the person with dementia to respond.

Communication technique are ways of passing information from one person to another, the communication technique "slow down and be patient" symbolized that when you are making a speech, you need to Slow your speech so the person has time to think about each word you say, and a he/she will be able to give the necessary response or act accordingly to the speech.

7 0
3 years ago
Identify some common miscellaneous itemized deductions and identify any limitations that are imposed on the deductibility of the
a_sh-v [17]

Answer:

The answer is below

Explanation:

Itemized deductions is an auditing or accounting terms, that  describes the various expenses that are deducted from the adjusted gross income to reduce the taxable income of an individual or the corporations. For example, job search expenses, mileage expenses, charitable expenses, and etc.

Some common miscellaneous itemized deductions are:

1.  Job search expenses: these are deductible from Adjusted Gross Income (AGI) such as travel expenses, resume preparation costs, moving costs, etc.

2.  Mileage expenses: mileage expenses is allowed by Internal Revenue Services (IRS) to be deducted from Adjusted Gross Income (AGI) for example; payments, repairs, insurance, etc.

3.  Charitable expenses: Charitable expenses are also eligible to deduct from Adjusted Gross Income (AGI) e.g. charitable gifts, donations, etc.

Limitations imposed on items which are deductible

Regardless, if it is job search expenses, mileage expenses, or charitable expenses, all are deductible if they are eligible for the deduction, and according to the IRS, the eligibility criteria are that all the expenses must exceed the 2% of AGI (Adjusted gross income).

Cases in which medical expenses are not deductible

Given that an individual or company pay the amount of medical expenses from their pocket, not from the business cost, hence, in this case, medical insurance is not deductible from the AGI.

At the same time, the insurance premium is excluded for the deduction if they exceed from the fixed amount set by the IRS, therefore, the employer-paid insurance funds cannot be deducted.

6 0
3 years ago
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