Under United States tax law, the standard deduction is a dollar quantity that non-itemizers may deduct from their income before income tax is applied. Taxpayers may select either itemized deductions or the standard deduction, either outcomes in the lesser amount of tax payable. The standard deduction is accessible to US citizens and aliens who are occupant for tax purposes and who are individuals, married persons, and heads of household. When filing her own tax return, Margie is limited to the greater of $1,050 or $1,750, it is solved by the sum of the earned income for the year plus $350.So the answer is $1,400 + $350 = $1,750
Answer: 1. real GDP declined.
Explanation:
If labor productivity fell yet the workforce did not increase, that means that for Years 1 and 2, workers were producing less than they were producing before because the same number of people were producing.
This means that the amount of goods produced in the country would reduce and therefore GDP would reduce as well as GDP is the amount of goods and services produced in a country. If labor productivity had fallen yet the work-hours had increased, the increase in worker hours would have made up for the loss of labor productivity.
Answer:
yesss but i graduated in 2017
Answer:
d) no change; a decrease
Explanation:
The Real GDP (gross domestic product) is a macroeconomic term which is the measurement of the value of services and goods produced by economy in a certain or specific time period compared to normal GDP. The influencer elements of Real GDP are very miscellaneous due to long run and short run periods. Then, the determinants which impact on the long run growth of an economy are:
1) Growth of productivity that means the ratio of economic outputs to inputs
2)Demographic changed that means the change of quantity or quality of employment, age structure and etc.
3)Labor Force participation which means that which amount participation there is in labor activities.
As seen above, the consumer and business confidence will not have any positive or negative effect on the real GDP.
Inflation is one of the most important macroeconomic indicator that intends the rate how the purchase power of the money is falling by the rising on the price levels of goods and services. In long run, the most influencing element for inflation is the rate of money supply but if we consider business and consumer confidence are the positive things for the developing of GDP, then they will have a little bit decrease effect on inflation.
Answer:
Explanation:
The lunch plate industry in Oahu is a perfectly competitive industry.
This industry is also a decreasing cost industry. A decreasing cost industry can be defined as the type of industry where an increase in the number of firms in the industry causes the average production cost to decline.
The industry is currently in long-run equilibrium and has the price level at $5.
As the demand increases, the price level will initially increase. But this increase in the price will cause the profits to increase and thus attract potential firms to join the market.
As the number of firms increases the average cost of production will decrease. As a result, the supply in the market will increase more than the demand.
So the long-run equilibrium will be reestablished at a lower price than earlier.
