Answer:
A) lower income tax rates could increase tax revenues.
Explanation:
The laffer curve is a theoretical model which argues that there a tax rate that theoretically produces the most revenue for the government. Said tax rate is between 0% and 100%.
President Reagan used this model to argue that a lower tax rate would actually increase government revenue. The logic behind this claim was that lower tax rates increases both public and private saving, which in turn increases investment, resulting in more economic growth, and more taxable income.
The validity of these claims is dispute and is subject to debate among economists.
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Answer:
d) decease in demand
Explanation:
When the produce of sweet corn crop rises by 20%, this would lead to an increase in supply. With increase in supply, the price of sweet corn shall fall, which would lead to an increase in demand as now consumers will consume more of sweet corn.
Since the relationship between price of a good and demand for it's substitute is positive, the demand for the substitute shall fall.
Thus, demand for frozen peas shall decrease as demand for sweet corn has increased.
Answer:
a) Peterson International is a trenchcoat wholesaler to retailers around the world. Sixty percent of sales orders are taken during the months of August and September. Peterson needs a system to manage online ordering and fulfillment.
Explanation:
Outsourcing likely to be the best solution to the firm's data processing needs because Peterson International is a trenchcoat wholesaler to retailers around the world. Sixty percent of sales orders are taken during the months of August and September. Peterson needs a system to manage online ordering and fulfillment.
