Answer:
a. Even though I was willing to pay up to $40 for a jersey sweater, I bought a jersey sweater for only $31.
Consumer Surplus;
= 40 - 31
= $9
When the amount that a consumer is willing to pay for something is more than the amount they actually pay, the difference is the Consumer surplus.
b. I sold a used laptop for $137, even though I was willing to go as low as $130 in order to sell it.
Producer Surplus
= 137 - 130
= $7
When the amount that a producer is willing to sell something for is less than the amount they actually sell it for, the difference is the Producer surplus.
c. I was willing to go as low as $130 in order to sell it A local store was having a sale on watches, so I bought a watch for my brother. Neither.
Answer:
The correct answer is A) Regular corporation or C corporation
Explanation:
Because Candance and Martha want to sell shares, they have to form a corporation, be it a C Corporation or an S Corporation, however, they also want to avoid double taxation, therefore, they have to form a C Corporation.
A C Corporation or Regular Corporation is taxed on the income it makes, and nothing else, the profit after deducting taxes is not taxed again. A S Corporation, on the other hand, is taxed both on income and profit.
The marginal tax rate and the average tax rate for a person who earns $70,000 will be $1,443 per month.
<h3>Marginal tax rate </h3>
The marginal tax rate is the amount of additional tax paid for every additional dollar earned as income. The average tax rate is the total tax paid divided by total income earned. A 10 percent marginal tax rate means that 10 cents of every next dollar earned would be taken as tax.
<h3>
Average tax rate </h3>
A taxpayer's average tax rate (or effective tax rate) is the share of income that they pay in taxes. By contrast, a taxpayer's marginal tax rate is the tax rate imposed on their last dollar of income. Taxpayers' average tax rates are lower — usually much lower — than their marginal rates.
Learn more about marginal tax rate and average tax rate here :
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Answer: a. The government shifted its resources from defense spending to helping big industries like the auto industry.
Explanation:
The era after the second world war saw massive government spending in the American economy. The government invested heavily in construction, education, the auto industry and others.
This led to unparalleled prosperity as Americans enjoyed high employment and high growth rates which led to high consumption and investments such that the American economy surged forward in leaps and bounds.