Answer:
Tax revenue is 120 billion dollars
The government budget balance is -30 billion dollars
Answer:
The law of supply is the microeconomic law that states that, all other factors being equal, as the price of a good or service increases, the quantity of goods or services that suppliers offer will increase, and vice versa.
Answer:
age
Explanation:
Based on this information it can be said that in this scenario the segmentation plan used by Vans relies heavily on age segmentation. This is when the company focuses on certain age groups to target within the population. Which in this scenario the Vans company is targeting strictly individuals between the ages 24 and 39 which are referred to as Generation Y.
Even though the United States has an absolute advantage in producing both refrigerators and shoes, it makes economic sense for it to specialize in the good for which it has a comparative advantage. The United States will export refrigerators and in return import shoes.
<h3>Do all countries have an absolute advantage in production?</h3>
In the production of at least one good or service, almost every nation enjoys an absolute competitive advantage. The key to absolute advantage is low-cost production. For instance, because they can benefit from low labor costs, China and other Asian nations are known to have a distinct advantage in the manufacturing sector.
<h3>What determines a nation's choice to specialize in a particular good?</h3>
When resources are scarce, a country's decision to focus on producing a specific good is also heavily influenced by its comparative advantage. Comparative advantage is based on the idea of opportunity cost, whereas absolute advantage refers to the superior production capabilities of one nation over another.
Does Japan have an absolute advantage in the auto industry?
Japan is said to have a clear advantage in the auto industry if it can produce cars just as well as the United States, but more quickly and with higher quality. The kinds of goods a nation decides to produce are greatly influenced by its absolute advantage or disadvantage in a given industry.
Learn more about U.S. auto industry:
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Answer:
Jarrod exclude from his gross income of $13,500
Explanation:
The following items which are excluded from the gross income are:
1. Tuition = $12,000
2. Books and supplies = $1,500
The total amount would be equal to
= $12,000 + $1,500
= $13,500
These items would be excluded because the deduction is allowed for these items. Whereas, the room and personal expenses are taxable. Hence, it would be included in the gross income
