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8090 [49]
3 years ago
6

When President Obama was president he had discussed raising income taxes for individuals earning over $250,000 in income. Explai

n how these higher income taxes will affect the aggregate demand curve. What variables cause the short-run aggregate supply curve to shift
Business
1 answer:
Allisa [31]3 years ago
7 0

Answer:

A) Higher income taxes will cause a decrease in disposable income and this will affect personal expenditure which will cause the aggregate demand curve to shift leftwards ( decrease in price level and real GDP )

B)

i) Change in input price

ii) Change in production cost

iii) Increase in labor supply or increase in capital stocks

Explanation:

A) Effects of higher income taxes on aggregate demand curve

i) Higher income taxes will cause a decrease in disposable income and this will affect personal expenditure which will cause the aggregate demand curve to shift leftwards ( decrease in price level and real GDP )

B) The factors that will cause the short-run aggregate supply curve to shift

a) Change in input price

b) Change in production cost

c) Increase in labor supply or increase in capital stocks

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Answer:

$628.49

Explanation:

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$100                         1.1449                $114.49

$200                         1.07                   $214

$300                          1                        $300

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The discount factor is as follows

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For $100 the year is 2

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1 year ago
Earl has $977 in his checking account. after he writes a check to the bookstore for $267, how much is remaining in his account?
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Answer:

Explanation:

The journal entry is shown below:

Land A/c Dr $470,500

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