In the 1930s Canada decided to raise taxes on goods imported in the United States in retaliation for the high tariffs that were created by the Hawley-Smoot Tariff. The Hawley-Smoot Tariff raised tariffs on nearly 20,000 imported goods to the United States to extremely high levels. This policy was put in place in an effort to protect American jobs following the Great Depression, but instead closed the U.S. economy off to the global market most likely hurting the American economy further.
Answer: Option C
Explanation: The maximum amount of money that a consumer is willing to pay for having an additional unit of a good or service is called the marginal benefit. Whereas, marginal cost refers to the increase in total cost when one more unit of output is produced.
In the given case, we want to use the available resources at their best, therefore, the money on pollution control should be spent only until the benefit of spending one more dollar is greater than the cost of doing so.
Hence, the correct option is C.
Answer:
c. Wilma (and each of the members) pays taxes on their $1 million share ($5 million divided by 5) of profits.
Explanation:
Data provided in the questions
Generated profits = $5 million
Reinvested amount into the company = $4 million
Out of which $1 million is to be divided equally
based on the above information, the federal income tax should be paid by 5 members of $1 million each
Hence, the option c is correct
And all other options are wrong
Explanation:
Incomplete question. However, i infer you want to know what the annual net income implies.
Thus, itis important you know that the annual net income is calculated after taxes are deducted from the total salary one earns in a year's. So to determine the value, you need to know the total taxes for the year.
Answer:
a) 2000
b) 4000
c) 2000 and 4800
Explanation:
The quantitative theory of money shows how the monetary side of an economy behaves, that is, the effect of money supply on income. It is given by the equation MV = PY, where M = money supply, V is the currency's velocity, P is the price level and Y is the real income level.
M = 500, V = 8, P = 2
a) The real income level:
MV = PY
500 x 8 = 2 x Y
Y = 2000
b) Nominal income level (price level multiplied by real income)
PY
2 x 2000 = 4000
C) If the money supply increases by 20%, ie to 600, the real income will be:
MV = PY
600 x 8 = 2.4 x Y (Y is full employment income, so the effects of money supply will be on the price level)
Y = 2000 Real income remains the same, increase in money supply does not affect real output, only price level, which increases from 2 to 2.4.
The nominal income, in turn, will be:
PY
2.4 x 2000 = 4800
That is, an increase in the money supply only increases nominal income.
