Answer:
The correct answer is option A.
Explanation:
Income tax is a tax imposed by the government on the income earned by the individuals. This income can be from capital and labor. It creates a deadweight loss in the market for labor and capital.
Deadweight loss is the loss to economic efficiency and production caused by a tax. The imposition of a tax creates a tax wedge, this tax wedge leads to a deadweight loss. Deadweight loss due to income tax is the loss of purchasing power or reductions standard of living due to tax.
The inefficiency or tax burden depends upon the elasticities of demand and supply. Whoever has the least elasticity will share most of the tax burden.
Answer:
A small amount of inflation can be really good for the economy. It can boost consumer demand and consumption. This encourages spending and investing.
Answer:
a. Plan I is better is we drive 300 miles in a day.
b. 150 miles.
Explanation:
a. if mileage is 300 then rental charges will be,
Plan I : $36 + 17 cents * miles
$36 + 0.17 * 300 = $41.10.
Plan II : $24 + 25 cents * miles
$24 + 0.25 * 300 = $99.00
Plan I total cost for 300 miles is $41.10 whereas Plan II total cost for 300 miles is $99.00. Plan I is better plan and cost effective.
b. For mileage (m) calculation we will use equation;
Plan I = Plan II
$36 + 0.17m = $24 +0.25m
0.25m - 0.17m = $36 - $24
m = $12 / 0.08
m = 150 miles.
Answer:
The City of Willows
Reconciliation Entries:
Debit Cash $500
Credit Deferred Revenue $500
To record the increase of deferred revenue.
Debit Compensated Absences Expense $150
Credit Compensated Absences Liability $150
To record the increase of compensated absences.
Explanation:
a) Data and Calculations:
Beginning balances:
Deferred Revenue = $3,500
Compensated Absences Liability = $1,000
Increases during the year:
Deferred Revenue = $500
Compensated Absences = $150
Reconciliation Entries:
Cash will increase by $500 and Deferred Revenue will increase by $500
Expenses will increase by $150 and Compensated Absences (Liability) will increase by $150.
Answer:
The correct answer to the following question will be Option C.
Explanation:
- Constant cost industries seem to be a sector wherein the proportion of units produced as well as manufacturing costs every unit maintains the very same irrespective including its amount of manufacturing or rise in population. Which doesn't use input data in the appropriate amount to influence the rates of that same components by a shift in industry revenue.
- This doesn't even use inputs in such amounts that perhaps the costs of that same inputs will be influenced by a change in business production.
The other choices are not linked to an industry of this kind. Therefore the clarification above is correct.
