The purchase and suppy of goods and services takes place in the product market.
Answer:
<h2>The answer, in this case, would be option a. or Incontestability clause.</h2>
Explanation:
- In the context of life insurance provision, incontestability clause basically refers to the prevention of the denial of insurance service by the insurer on ground of falsification or fraudulent misrepresentation of relevant fact or information in the insurance application.
- Incontestability clause is officially applicable following the effective implementation of the insurance policy at least for a particular time period, which is usually considered to be two to three years.
- The clause is commonly applicable in the case of life and health or medical insurance policies.
Answer:
a. Wholesale division.
Explanation:
The formula to compute for return on investment is shown below:
Return on investment = Operating Income ÷ Operating Assets
For Retail Division, it would be
= $2,500,000 ÷ $16,000,0000
= 15.625%
For Wholesale Division, it would be
= $6,000,000 ÷ $36,000,0000
= 16.67%
Based on the calculation, the wholesale division perform better
Answer: 1 unit of X and 2 units of Y
Explanation: Total utility is the complete satisfaction you get from maximising usage of a quantity of a good or service. However another element also needs to be considered, and that is marginal utility. Marginal utility is the satisfaction you get from consuming an additional quantity of a good or service.
Both these factors are important as they determine how much of each product the consumer should buy. To maximise total utility, the consumer must use the full $10 income. But the question still stands as to which combination of products should the consumer purchase.
To make it fair the consumer should start by purchasing one of X and one of Y, and keep taking one of each (starting with X) to keep it fair. However after taking one of X, worth $2, and one of Y, worth $4, there is only $4 left. That means that if the consumer then takes one of X there will be $2 left, disallowing the consumer to afford X, and thus making the purchases unfair. Therefore in terms of meeting the marginal utlility, it is better to then swop to purchasing Y with the remaining $4, and maximising the consumer's total utility.
Answer:
The Internal Revenue Code is federal statutory law while treasury regulations can not stand as laws on their own.
Explanation:
The Internal Revenue Code is federal statutory law passed into law by Congress and automatically becomes a law after the President has assented to it. This implies that the two arms of the government must be involved in it before before it becomes a law, otherwise it is null and void.
Treasury regulation is only meant to give interpretations and explanations to the Internal Revenue Code, law or statue, and it is not really a law by itself. The Treasury usually receives authority from the Congress to write regulations that will serve as the official interpretation of statutory law.
However, this does not mean that the regulations does not have appreciably authoritative weight, but it is just that the weight of authority of the regulation is less than the weight of the Internal Revenue Code.
