Answer:
Explanation:
a. Money is being used as a medium of exchange because Brooke is accepting money in exchange for doing her daily tasks at the office. Money facilitates transactions: Brooke will use some of that money to buy food, if money wouldn´t exist, the company will have to pay her in food, but for the company is difficult to measure how much apples, rice, coffee and other does Brooke´s work represent.
b. Money is being used as a unit of account because it provides a common measure of the value of goods or services, in this case oranges and apples.
c. Money is being used as a store of value. Even though money loses value because of inflation is the most liquid asset a person can have.
Answer: Some employers and workers will agree on a wage less than $20 and not report the wages to the government; black market
Explanation: When the minimum wage is set above the equilibrium wage it leads to a surplus of labor in the market. There are more job seekers than the firms demand at the minimum wage of $20. Thus, the only possible option will be that some employers and workers will agree on a wage less than $20 and not report the wages to the government. When this happens it leads to black marketing. Black market is an underground economy the transactions of which are not reported to the government.
Answer:
Ans. c) Income tax rate must be 23%
Explanation:
Hi, the total income of Thailand´s workforce is:
Since Thailand´s government needs to raise $70,000,000,000, the tax rate has to be:
So Thailand´s tax rate must be: c. 23%
Best of luck.