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ELEN [110]
3 years ago
8

If everyone paid taxes equal to 10 percent of their total annual income, the value of correlation coefficient for income and tax

es would be nearest to____________.
Business
1 answer:
antoniya [11.8K]3 years ago
3 0

Answer:

the value of correlation coefficient for income and taxes would be nearest to 1

Explanation:

Correlation coefficient measures the strength of relationship between two variables. If r is close to one there is a positively strong correlation between the two variables, if it is close to -1, the is negatively weak relationship between the two variables.

the value of correlation coefficient for income and taxes would be nearest to 1, if everyone paid taxes equal to 10 percent of their total annual income.

You might be interested in
A report indicated that the average real wage in manufacturing declined by 2 percent between 1990 and 2000. If the CPI equaled 1
inn [45]

Answer:

W = $27.34

Explanation:

Given data:

Percentage Decline in average income is = 2%

CPI in 1990 1.30

CPI in 2000 is 1.69

Average nominal wage is 2000 is $35

Inflation rate is given as

Inflation rate = % Change in CPI

                    = (1.69 / 1.3) - 1

                    = 1.3 - 1 = 0.3 = 30%

Real wage = Nominal wage / Price level,  hence

Percentage change in real wage = % Change in (nominal wage - inflation rate)

-2% = % Change in nominal wage - 30%

% Change in nominal wage = 28%

let nominal wage in 1990 is w

W\times 1.28% = $35

solving for W = $27.34

8 0
3 years ago
Assume an economy is currently engaged in free trade but considering implementing a tariff on its main import, athletic shoes. W
UNO [17]

Answer:

Price - increase

Domestic production- increase

Import- reduces

Producer surplus- increase

Explanation:

A tariff is a form of tax on import or export.

When a tariff is imposed on a good , the price of the good increases.

As a result of the tariff , the amount of the goods imported falls as the imported good is now more expensive. The quantity produced by domestic producers increases as consumers would now start demanding for the domestic good. Tariffs are sometimes enacted to discourage importation and encourage domestic production.

As a result of the price increase, producer surplus increases. The increase in price also increases output. The producer surplus is the difference between the price of a product and the least amount the producer is willing to sell his product.

I hope my answer helps you.

7 0
3 years ago
Is it true that when you plug your nose and eat, an Apple, and Onion, or ginger, they all taste the same?
Mrrafil [7]

Answer:

No

Explanation:

Just why- why would you ask this?

6 0
3 years ago
Read 2 more answers
Based on the following data for the current year, what is the number of days' sales in accounts receivable? Net sales on account
ki77a [65]

Answer:

25 Days

Explanation:

Average Account receivables:

= (Accounts receivables, beginning of year + Account receivables, end of year) ÷ 2

= (45,000 + 35,000) ÷ 2

= 40,000

Account Receivables Turnover = Net Sales on Account ÷ Average Account Receivables  

Account Receivables Turnover = 584,000 ÷ 40,000

                                                    = 14.6 times

No. of Days Sales in Accounts Receivables:

= No. of Days in a year ÷ Account Receivables Turnover

= 365 ÷ 14.6

= 25 Days

4 0
3 years ago
While pollution regulations yield the benefit of a cleaner environment and the improved health that comes with it, the regulatio
masha68 [24]

Answer:

a. people face tradeoffs.

Explanation:

Tradeoffs means sacrificing something in order to achieve another thing.

Firms are sacrificing some of their profits in order to have an healthier and cleaner environment.

I hope my answer helps you

5 0
3 years ago
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