Answer:
The correct answer is option C.
Explanation:
Imposition of tax causes the market equilibrium price to increase. This creates a tax wedge by increasing the price paid by the buyer and reducing the price received by the seller.
So the burden of tax is shared by both buyers and sellers. Who will share most of the burden depends on their elasticity.
If the demand is more inelastic, consumers will share most of the burden. If the supply is more inelastic, producers will bear most of the burden.
Answer:
Payne should exclude Salem's January 1, Year 1, Retained Earnings and income for January 1 to September 30 from consolidated Retained Earnings and consolidated income
Explanation:
The Retained Earnings of Salem on January 1, Year 1 and and its income during the period between January 1 and September 30 would not be included in the Year 1 consolidated financial statements.
The reason is that The Retained Earnings of Salem on January 1, Year 1 and and its income during the period between January 1 and September 30 are part of the equity of the shareholders that that Payne acquired on September 30, Year 1. They would then be eliminated in the eliminating entry of the consolidating investment.
Answer:
Approximately $37000
Explanation:
A standard normal curve will be used to solve this question since the histogram of the data takes on a mound shape.
The mean salary is $33000 with one standard deviation equalling $2000.
Using the normal curve, 95% of the salary will lie between 2 standard deviation. i.e. $33000+$2000+$2000=$37000
Answer:
the black market price stays more or less the same in the long run as in the short run.
Explanation:
The black market price may increase or decrease depending on the price elasticity of the goods or services involved, there is no general economic rule that defines how black market equilibrium price reacts to changes in the supply and demand of legal goods and services.
In this specific case, both the demand elasticity and the supply elasticity are elastic, so they basically cancel out or offset each other. The black market supply will decrease the shortage, but it will not be able to satisfy the new quantity demanded completely. Black market apartments have a greater elasticity (steeper curves).
Increasing the capital available to the workforce, and holding other factors constant, tends to increase total output while increasing average labor productivity.
How does an increase in capital affect labor?
Increases in the capital stock's ratio to labor hours worked are referred to as capital deepening. When all other factors are equal, changes in this ratio have a strong correlation with changes in labor productivity. Labor productivity rises in response to a rise in capital per hour (also known as capital deepening).
What increases labor productivity?
The development of human capital, technological advancement, and capital investment all contribute significantly to labor productivity. By making direct investments in or offering incentives for advances in technology and human or physical capital, business and the government can raise the labor productivity of their workforces.
What is total output?
There are two approaches to calculating total output: as the value of all final goods and services produced, or as the value contributed at each stage of production.
Learn more about labor productivity: brainly.com/question/15410954
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