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8090 [49]
3 years ago
11

Why are the real income levels of Americans affected by rising prices?

Business
1 answer:
Nat2105 [25]3 years ago
4 0

"Real Wages" are wages that are adjusted for inflation and rising prices. As prices rise, people are able to buy less and less with their "nominal" (aka un-adjusted)  wages.

One example is gas for your car. If you make $1000 a month and gas goes up from $2.50 to $3, your un-adjusted wages stay the same (you still make $1000) but you can't buy as much of other things because your "real" wages have effectively gone down due to the price increase of gas.

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Ann is in the middle of completing her first 1040EZ tax form. She has some questions about an instruction on the form. What shou
Len [333]
Look at the instructions for that form 1040EZ online. If that doesn't help you call the dept of taxation for help
7 0
3 years ago
In terms of total dollars in the state budget, the various service charges and fees in Texas provide ______ percent of total sta
babymother [125]

In terms of total dollars in the state budget, the various service charges and fees in Texas provide 15 percent of total state revenue.

<h3>Texas State Budget</h3>
  • To inform the general public about the Texas state budget, the Legislative Budget Board created the Texas Budget Source (TBS), a report generator.
  • Texas' Automated Budget and Evaluation System (TBS) pulls its data from the LBB (ABEST). Users have the option to create budget reports for a particular state agency.
  • They can also provide reports that are arranged according to the General Appropriations Bill's articles.
  • Both the Senate Finance Committee and the Texas House Appropriations Committee hold hearings on the general appropriations measure and adopt amendments that take into account the BRE's budget goals and its limitations.
  • The full House and Senate, respectively, receive the committee-completed versions of the bill for approval.
  • The different service fees and levies in Texas account for 15% of all state revenue in terms of total amounts for the state budget.

To learn more about Texas State Budget refer to:

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5 0
2 years ago
An indifference curve shows the various bundles of goods that:_________ A. all cost the same amount of money. B. make the consum
erica [24]

Answer:

B. make the consumer equally happy.

Explanation:

An indifference curve can be defined as the graphical representation of two products (commodities) that gives a customer equal utility and satisfaction and as such making him or her indifferent about them as they are equally happy.

Hence, an indifference curve shows the various bundles of goods that make the consumer equally happy.

3 0
3 years ago
Ruth Company produces 1,000 units of a necessary component with the following costs: Direct Materials $34,000 Direct Labor 15,00
Snowcat [4.5K]

Answer:

Option B is correct

The maximum price to be paid is = $64000

Explanation:

To determine the the maximum price we would compute using the relevant costs of internal production.

<em>The maximum price to be paid to external supplier should be the total relevant costs associated with internal production.</em>

Total relevant cost of internal production = 34,000 + 15,000 +9000 + 6000

The maximum price to be paid is = $64000

Note that the fixed overhead  of $6000 is associated with the internal production the balance of 4,000 is irrelevant and would be incurred either way.

4 0
3 years ago
the relationship between the factors of production used by a firm and the maximum output possible is called the
elena-14-01-66 [18.8K]

In economics, a factor of production, resource, or input is what is used in a production process to produce products, i.e. goods or services.

The amounts of various inputs used determine the amount of output according to a relationship known as the production function. The relationship between the inputs a firm uses and the maximum output it can produce with those inputs is called the firm's production function. Factors of production are outputs or inputs used to produce goods and services. They are the resources a business needs to make a profit by producing goods and services. Factors of production fall into four categories: Land, Labor, Capital, Entrepreneurship.

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3 0
1 year ago
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