<span>Yes the United States federal government
should reduce the progressive income tax rates in favor of an introduction of a
regressive national sales tax. Hence, since U.S progressive income tax means
income redistribution that most taxes are used to fund social welfare programs
however only a small portion of government spending is devoted to welfare
payments. Example of this progressive taxes reduction is the sales tax. Moreover,
If the two individuals buy the same amount of goods or services, the sales tax
constitute a higher percentage of the lower-earning individual’s wages and a lower
percentage of the higher-earning individual’s wages. </span>
<u>Question 1</u>
The correct answer is: "FALSE".
The total revenue earned by a firm is computed using the formula:
R= price * quantity
According to the formula, if the term "price" increases, R would increase too. But an increase in price usually decreases the amount demanded by consumers of a certain product. Therefore, if quantity demanded drops in a higher proportion than the increase in price, the final total revenue would decrease. So the final effect depends on the size of the two variations.
<u>Question 2</u>
<u>The determinants of demand are the following:</u>
- Price: inversely related to the quantity demanded, as the larger the price the smaller the amount demanded of a product.
- Income of consumers: directly related. The larger the income earned by an economic agent, the larger the amount demanded of a normal good (there are exceptions, such as inferior goods, for which income and demand are inversely related).
- Prices of related goods of services. If two goods are substitutes, the increase on the price of one, decreases the amount demanded of that product but increases the amount demanded of the other product. It two goods are complements, the increase in the price of one good decreases the amount demanded of it, and the amount demanded of the other product too.
- Tastes or preferences of consumers. If a product is in line with the general preferences of consumers the amount demanded will be large.
- Market expectations. For example, if a price is expected to rise, consumers might prefer to buy now and therefore demand increases at the moment.
Answer:
Water is one of the basic human necessities but a large proportion of the Nepalese population is devoid of access to safe and adequate drinking water. According to the Department of Water Supply and Sewerage in Nepal, even though an estimated 80% of the total population has access to drinking water, it is not safe.
Explanation:
Answer:
Both set policy related to the economy
.
I believe the answer is: closure
Closure cause the members in a group to have underlying assumption that other people from outside their group would behave in the exact same way as their group do. Having this point of view would make them become unprepared when their collective view is challenged by differing opinion.
