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3 years ago

What would an increase in taxes do to the position of the supply curve?

1 answer:

7 0

Taxation shifts a supply curve to the left. At a given level of demand, taxation's reduction of incentives will result in a decrease in the production of goods or services. As shown above, the equilibrium price will rise and the equilibrium quantity will fall.

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Deadweight loss is A. the reduction in consumer expenditure resulting from market failure. B. the reduction in economic surplus

never [62]

Answer:

The answer is: B) The reduction in economic surplus resulting from a market not being in competitive equilibrium.

Explanation:

Deadweight loss is an economic cost to society as a whole when market inefficiencies occur preventing it from reaching its equilibrium point. Market inefficiencies are caused by incorrect allocation of resources.

For example if a price ceiling is established, suppliers will tend to lower the quantity supplied while the quantity demanded either increases or stays the same. That economic deficiency resulting from an unsatisfied demand is what we call deadweight loss.

Other causes for deadweight loss are price floors (reduction of the quantity demanded) and taxation (shifts on the demand or supply curves).

5 0

4 years ago

1. What is the name of the man behind black history month?<br><br> I need a answers plz

Andreas93 [3]

Answer:

Carter G. Woodson

Explanation:

Woodson. Carter G. Woodson was a scholar whose dedication to celebrating the historic contributions of Black people led to the establishment of Black History Month, marked every February since 1976.

7 0

3 years ago

You are given the following data concerning Freedonia, a legendary country: Consumption Function: C = + Y Investment: I =

Grace [21]

Answer and Explanation:

Given that

Consumption function C = 200 + 0.9Y

Investment I = 300

Aggregate expenditure AE = C + I

Equilibrium AE = Y

Based on the above information

a. The level of equibrium income is

Y = AE = C + I

Y = 200 + 0.9Y + 300

0.1Y = 500

Y = 5000

b. The value of the investment multiplier is

= 1 ÷ (1 - MPC)

= 1 ÷ (1 - 0.9)

= 10

c. The change in the level of equilibrium income if investment increases by 10 is

Y = 200 + 0.9Y + 310

0.1Y = 510

Y = 5100

Change is

= 5,100 - 5,000

= 100

6 0

3 years ago

Select the sentence that is completely correct. Group of answer choices Todd is unsure of whether he should except the position

goldenfox [79]

Answer:

The completely correct sentence is:

Todd is unsure of whether he should accept the position or go in to business himself.

Explanation:

The adjective unsure goes with the preposition, 'of' to indicate what the subject is not certain of. Option 1 with 'except' is completely wrong. It is not the correct verb form of the word. Some people, however, omit the preposition, 'of,' but this is not completely correct.

6 0

3 years ago

What is the value of an annuity due at the end of 15 years of quarterly deposits of $2,000.00 with terms of 8 percent compounded

elena55 [62]

Explanations:

The formula for future value given

deposit amount, A = 2000

deposit interest, i = 8% annually = 8/4 = 2%, compounded quarterly

compounding period = quarterly

number of periods, n = 15 years = 4*15 = 60 periods (quarters)

The future value is given by:

FV = A*((1+i)^n-1)/i

= 2000*(1.02^60/0.02)

= $228103.08 (rounded to the nearest cent).

The difference in the answer choice is probably due to the teacher's calculator does not have sufficient accuracy.

4 0

3 years ago