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3 years ago

The language of price controls

Business

1 answer:

mel-nik [20]3 years ago

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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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zysi [14]

Answer:

The correct answer is c. Appraisal of the environment and comparison against established criteria.

Explanation:

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katen-ka-za [31]

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3 years ago

A piece of property bought by XYZ Corporation a few years ago was sold for $5 M. The cost basis for this property was $2.75 M. T

Tanzania [10]

Answer:

True

Explanation:

Data given in the question

Sale value of the property = $5,000,000

Cost basis of property = $2,750,000

And, the taxable income is $12,150,000

So, based on the above information, the capital gain on the property is

= (Sale value of the property - Cost basis of property) × capital gain tax rate

= ($5,000,000 - $2,750,000) × 15%

= $337,500

We assume the capital gain tax rate is 15%

Hence, the given statement is true

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grandymaker [24]

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