The 10 million U.S. residents with the highest SES outlive the 10 million with the lowest SES who live in rundown areas by about <u>30</u> years.
<h3>What is socioeconomic status (SES)?</h3>
Socioeconomic status can be defined as the status of people in a society or community as based on the followings:
- Income
- Occupation
- Education
In the United State of America people who are educated and earn higher income including having the best health care tend to live longer compare to those who live in a very poor condition and has a lowest SES.
Inconclusion 10 million U.S. residents with the highest SES outlive the 10 million with the lowest SES who live in rundown areas by about <u>30</u> years.
Learn more about socioeconomic status here:brainly.com/question/3867614
Answer:
This question is incomplete, here are the missing answers:
<em>a. medium of exchange</em>
<em>b. unit of account</em>
<em>c. backed by a precious metal</em>
<em>d. store of value</em>
<u>The answer is </u><u>c.</u>
Explanation:
Money has three general functions (characteristics):
- <em>medium of exchange</em> - Mainly created as the substitute of barter, money has the elementary use as an intermediary when exchanging goods or services.
- <em>unit of account</em> - In order to compare the value of certain goods and services, it is essential to measure them. This is where money applies as unit of account.
- <em>store of value </em>- Given that the money is stable (purchasing power and limited inflation), it is a general option for storing value. That means it can always be easily exchanged into goods or services, no matter the time.
According to basic elimination, <u>c. is the correct answer</u>. Also, it is also known that <em>backing money with gold</em> or silver reserves is an old practice which is irrelevant for most currencies nowadays. Today, the government is backing up the value of its currency. Such money is called <em>fiat money</em>.
Time value of money (TVM) is the concept that an amount of money today is worth more than the same amount of money in the future because of the potential for earnings. This is a basic principle of finance. Money in hand has more value than the same money paid in the future.
Time value of money. Simply put, the value of a given amount of money today is worth more than it will be worth tomorrow. This is not due to temporal uncertainty, it is simply due to timing. The difference between the value of money today and tomorrow is called the time value of money.
Learn more about the time value of money here:brainly.com/question/3811399
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Answer:
The answer is: Marc´s effective tax rate is 18.29% equivalent to $18,289.50
Explanation:
Marc is a single filer, so his taxable income of $100,000 falls under the fourth tax bracket ($82,501 to $157,500) with a tax rate of 24%. To calculate Marc´s effective tax rate:
Taxes due = $14,089.50 + [24% x ($100,000 - $82,500)]
= $14,089.50 + (24% x $17,500)
= $14,089.50 + $4,200
= $18,289.50
So Marc´s effective tax rate (ETR) = ($18,289.50 / $100,000) x 100 = 18.29%
Note: The $10,000 Marc earned in interest from municipal bonds (City of Birmingham bonds) are tax exempt, so they are not included in these calculations.
