Social Security, other public pension plans, employer pension plans, personal retirement plans, and annuities or savings
<h3>What are retirement incomes?</h3>
This is the term that is used to refer to the income that a person would get after they have left active service.
The reason is so they can have a good life after they are no longer working and they are old.
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Answer:
-value of all goods and services produced in the economy this year
-this year's prices
-value of all goods and services produced in the economy this year
-the base year's prices
-bought by consumers
-the first scenario would have effect on the GDP deflator
-the second scenario would have effect on the GDP deflator
Explanation:
The GDP deflator is used in measuring inflation in the economy by measuring changes in prices of goods in the economy. It is used together with other indices such as consumer price index in arriving at a more accurate or balanced measurement of inflation I'm the economy. The GDP deflator would be affected above because it is more comprehensive in it's calculation or measurement as it doesn't take into account only a basket of goods and services like the Consumer price index does
Answer:
A) Country 1's PPF lies further to the right than country 2's PPF.
Explanation:
Production Possibility Curve shows the combination of two goods, that an economy can produce - by utilising given resources & technology best efficiently.
If country 1 produces twice the output of both goods compared to country 2. Then, country 1's PPF would lie further to the right than country 2's PPF. As, more quantities implies rightward shifted PPC, signifying more quantities of goods that can be produced.
Efficient or inefficient production leads to production inside or on PPC, doesn't shift PPC. Population change is also irrelevant in this case.
Answer:
Explanation:
Taxation is the means by which the government gets most of its revenue so it is the duties of private or publicly owned organizations and also the citizen to pay their taxes used by the government to fund all its projects. the taxes generated by the government are then divided among buyers and sellers.
The elasticity of demand is the main determinant of how burden of tax is divided between buyers and sellers.
