Government attempts to prohibit monopolization of a market are known as antitrust regulations.
Answer:
B) $2,000 is taxable and a 10% penalty will be imposed
Explanation:
Coverdell ESA distributions that are not used for qualifying educational expenses must be included in the gross income of the beneficiary and usually will be subject to a 10% tax penalty.
Coverdell ESA contributions are not taxed deductible, but the interest that they earn is not taxed. If the distributions are used to cover qualifying educational expenses, they are not taxed. But if they are not used properly, they must be included in the gross income of the beneficiary and will usually result in a 10% tax penalty (of the unused amount).
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Answer:
<h2>$72,000</h2>
Explanation:
We need to first calculate the interest on investing $30,000 after 20 years at 7% in a single-premium tax-deffered annuity using the simple interest formula.
Simple interest = Principal * Rate * Time/100
Simple interest = $30,000*7*20/100
Simple Interest = $42,000
After-tax dollars that will be accumulated in 20 years = Initial investment + Interest = $30,000+$42,000 = $72,000
<em>Hence, after-tax dollars that will be accumulated in 20 years is $72,000.</em>
Multiple choice options
Perfect complements
Cobb Douglas
Perfect substitute
Concave IC
Quasi linear
Answer:
Perfect complements
Cobb Douglas
Explanation:
Perfect complements and Cobb Douglas will always result in interior optimum for utility maximization
When we talk of perfect competition, the consumer would always consume both goods and would do so in fixed proportions.
For cobb Douglas, the consumer spends a fixed part of income on the good. The part of income that is spent is dependent on the exponential power of goods it was spent on.
For perfect substitute and concave IC, any of one good is consumed
For quasi linear, first one good is consumed till some unit. After this unit is done with, if anything is left on income, the remaining income will be spent on other good. So at income level, there is corner solution and whereafter there will be interior solution.
