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2 years ago

How is elasticity related to the revenue from a sales tax?

Business

1 answer:

diamong [38]2 years ago

8 0

Answer:

The correct answer is (d)

Explanation:

Elasticity means a change in price will change the supply or demand more than the price change. If the demand is inelastic, then the increase in price will increase the tax revenues because the demand will not change much compared to the price change. Likewise, this phenomenon is the same in the case of supply; the increase in taxes will decrease the overall quantity supplied, which will decrease the overall tax collection or tax revenue.

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What is the difference between gross income, taxable income, and adjusted gross income?

melisa1 [442]

Answer:

Here is what I found, I hope it helps

Explanation:

Gross Income contains all money you earn that is not expressly removed from taxation under the Internal Revenue Code (IRC). The part of your gross income which is currently subjected to taxes is Taxable Income. To arrive at the number of Taxable Income, expenses are deducted from gross income. For a year, your Gross Income applies to all your pre-tax earnings, while your Adjusted Gross Income is mostly smaller and refers to your income after tax deductions. I could not find the difference between Adjusted Gross Income and Taxable Income.

6 0

3 years ago

Read 2 more answers

1.different types of socialization?

patriot [66]

Answer:

Primary and secondary

Explanation:

Generally there are 5 types of socialisation.

1. Primary

2. Secondary

3.Anticipatory

4. Development

5. Resocialisation.

But the common are primary and secondary

6 0

3 years ago

Read 2 more answers

Marston Manufacturing Company is considering a project that requires an investment in new equipment of $3,600,000, with an addit

Lorico [155]

Answer:

These are the missing multiple choices:

a. $3,780,000, b. $4,212,000, c. $720,000

The correct option is A,$3,780,000

Explanation:

The total cost of Martson's new equipment comprises of the invoice price of the equipment of $3,600,000 plus the cost of installation and shipping costs of $180,000.

The rationale for the shipping and installation is that costs of asset should include costs incurred in bringing the asset to its present location and condition such as installation and shipping costs.

The costs of the assets is $3,780,000($3,600,000+$180,000)

8 0

2 years ago

If you are in a hostile emergency situation, you should contact everyone you know using as many telephone lines as possible

ratelena [41]

The correct answer to this question is True

4 0

3 years ago

Read 2 more answers

Farrel Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just compl

larisa [96]

Answer:

Dr Work in Process 574,000

Dr Manufacturing Overhead 163,000

Cr Wages Payable 737,000

Explanation:

Preparation of the journal entry to record the direct and indirect labor costs incurred during the year

Based on the information given the appropriate journal entry to record the direct and indirect labor costs incurred during the year will be :

Dr Work in Process 574,000

Dr Manufacturing Overhead 163,000

Cr Wages Payable 737,000

(574,000+163,000)

(Being to record direct and indirect labor costs incurred )

3 0

2 years ago