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Dahasolnce [82]
3 years ago
7

During 2010, Congress debated the advisability of retaining some or all of the tax cuts signed into law by former President Geor

ge W. Bush in 2001 and 2003 and set to expire at the end of 2010. By reducing tax rates across the board, take-home pay for all taxpaying workers would increase. The purpose, in part, was to encourage work and increase the supply of labor. Households would respond the way the president hoped, but only if income effects were stronger than substitution effects. -The law of diminishing marginal utility states ____
Business
1 answer:
Zolol [24]3 years ago
6 0

Answer and explanation:

The law of Diminishing Marginal Utility states that the more you consume a good or use a service, the less satisfied you will be with each successive use or consumption. It is an important concept in determining consumer preferences. It assumes consumers are rational and will spend money in a way that maximizes contentment with each subsequent unit without negatively affecting their total enjoyment.

You might be interested in
The government of Junta took Fuel Safe Corp., a domestic energy firm, into state ownership to save the company from bankruptcy.
Elenna [48]

Answer:

These are the options for the question:

market-based

communist

command

laissez-faire

mixed

And this is the correct answer:

mixed

Explanation:

A mixed economy is an economy that either:

  • Mixes state intervention with a free-market economy.
  • Has some sectors of the economy run in market-based style, and other sectors in a planned-style.
  • Has coexistence of public enterprises and private enterprises.

In the question, we have an example of a mixed economy because in the energy sector (a crucial sector in any economy), there is one public company competing against private companies.

The economy becomes even more mixed when the government lowers the tax rates of the private companies, so that both the public firm and the private firms compete under the same conditions.

8 0
3 years ago
The percentage of network programming on broadcast TV that involves sports is _______________________.
Dmitry_Shevchenko [17]

Answer: Fifty percent.

Explanation:

8 0
3 years ago
The trading bloc consisting of 28 trading partners in europe is the ____.
Murljashka [212]
The trading bloc consisting of 28 trading partners in Europe is the EUROPEAN UNION. European Union is a political and economic alliance among 28 countries members that located primarily in Europe. Some of the members are: Germany, Poland, Italy, United Kingdom, France, Belgium, Netherlands, etc.
5 0
3 years ago
In an open economy, gross domestic product equals $2,450 billion, consumption expenditure equals $1,390 billion, government expe
N76 [4]

Answer:

$735 billion

Explanation:

Calculation to determine the national saving

Using this formula

National saving =Gross domestic product-Consumption expenditure-Government expenditure

Let plug in the formula

National saving=$2,450 billion-$1,390 billion- $325 billion

National saving=$735 billion

Therefore the national saving is $735 billion

7 0
3 years ago
Kaira's company recently switched to a new calendaring system provided by a vendor. Kaira and other users connect to the system,
nikitadnepr [17]

Answer:

Software as a Service (SaaS)

Explanation:

Software as a service (SaaS) allows users connected to cloud-based applications over the Internet and use them. Some common examples are email, calendars and office tools (such as Microsoft Office 365).

SaaS offers a comprehensive software solution that is acquired from a cloud service provider through a pay-per-use model. It is possible to rent the use of an application for the organization and users connect to it through the Internet, usually with a web browser. All underlying infrastructure, middleware, software and application data are located in the provider's data center. The service provider manages the hardware and software and, with the appropriate service contract, will also guarantee the availability and security of the application and data. SaaS allows an organization to get started and can run applications with a minimal initial cost.

3 0
3 years ago
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