Answer:
Savings rates decrease as income increases.
Explanation:
Consumption can be defined as the use of goods and services by the household or end users.
The true and correct statements about consumption are;
1. Wealthy people consume more than other people.
2. Expectations about future prices affect consumption.
3. Tax increases reduce consumption.
The incorrect statement concerning consumption is that, savings rates decrease as income increases because an increase in income generally result in an increase in savings rates.
Answer:
Net decrease in prepaid expenses of $30,000 will be added to the net income in adjustments to net income because it will be considered that working capital (inventory or any other expense) has been generated by the operations.
Net decrease in Accounts payable of $20,000 will be deducted from net income in adjustments to net income because decrease in accounts payable means that cash has been paid to the outstanding payables.
Net effect of the above transactions is $30,000 - $20,000 = $10,000
So, net income will be increased by $10,000 as net effect of the above adjustments.
Answer:
is counted in C, personal consumption
Explanation:
GDP = Consumption spending + Investment spending + Government Spending + Net Export
Consumption spending is all spending by households on services and goods which could be either durable or non durable goods.
Investment is spending by businesses.
I hope my answer helps you
Answer:
The correct answer is letter "A": True.
Explanation:
The Internal Service Revenue (<em>IRS</em>) offers Volunteer Income Tax Assistance (<em>VITA</em>) for elderly people who do not know how to file taxes on their own. The volunteers follow a series of practices during the interview with the taxpayers to gather their taxable information accurately. The principle of Due Diligence allows volunteers to <em>ask for clarification when the taxpayer information seems unclear or inconsistent</em>. However, if the information is not unusual, there is no need to request proof of it.
The careers where an individual can be self employed include:
- Greenhouse manager.
- Animal breeder
- Baker.
- Agricultural equipment operator.
A self-employed person simply means an individual who earns their living from any independent pursuit of economic activity.
It's the state of working for oneself. Examples include greenhouse manager, animal breeder, baker, and gricultural equipment operator.
Learn more about self employment on:
brainly.com/question/25803149
