Answer: It will reduce in demand
Explanation: If you raise a price customers are less likely to buy it when it’s at a higher price
Answer:
II. The Federal Government spends more than it collects in taxes in a given year.
Explanation:
A federal budget deficit is when government spending exceeds income from taxes.
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Answer:
Variable manufacturing overhead rate variance= $664 favorable
Explanation:
Giving the following information:
Variable overhead 0.2 hours $ 5.10 per hour
The company used 1,660 direct labor-hours to produce this output. The actual variable overhead cost was $7,802.
<u>To calculate the variable overhead rate variance, we need to use the following formula:</u>
Variable manufacturing overhead rate variance= (standard rate - actual rate)* actual quantity
Actual rate= 7,802/1,660= $4.7
Variable manufacturing overhead rate variance= (5.1 - 4.7)*1,660
Variable manufacturing overhead rate variance= $664 favorable
Answer:
B. Kim will win, because the bonus is a reward for work they have already performed, which is past consideration and cannot be used to create a contract.
Explanation:
In order for a contract to be enforceable, consideration must be exchanged between both parties. In this case, Kim made a promise that included consideration ($3,500) but Gold didn't exchange of give anything back. The swimming pool is already finished and it represents another different contract.
Another example would be a boss telling a subordinate that he/she will receive a bonus for having worked 10 years in the firm. The employee already got paid for working the 10 years, so there is no actual exchange of new consideration.
Any increase in government spending must be offset by an increase in revenue and/or cuts in spending elsewhere in the budget.
<h3>What does Texas Constitution require a balanced budget?</h3>
- Texas always keeps its budget balanced because the State Constitution demands it. The Texas state and local sales taxes exceed 10% of the individual transaction price. The primary operating fund for Texas is the General Revenue Dedicated Fund.
- A constitutional amendment known as the "balanced budget amendment" would restrict government spending to the amount of revenue it receives. Spending would need to be under control by the federal government.
An amendment to the texas constitution requires a balanced budget. This means that any increase in government spending must be offset by an increase in revenue and/or cuts in spending elsewhere in the budget.
According to a balanced budget, a government should not spend more than its income. Thus projected incomes and expenditures should be equal.
To learn more about balanced constitutional budget amendment, refer to:
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