Answer:
D) there is a decline in the price level.
Explanation:
Inflation refers to an increase in the general price level of a country, while deflation is exactly the opposite. Deflation represents a decrease in the general price level of a country. They are both calculated the same way, only that inflation is much more "famous" and notorious since it happens very oftenly, while deflation is very rare.
But that doesn't mean that deflation is good, since it generally represents an economic decline or recession. A low inflation rate is a sign of a healthy economy because it shows that the economy is growing.
Answer:
a. buyers of the good will bear most of the burden of the tax.
Explanation:
When a tax is imposed on a good for which the supply is relatively elastic and the demand is relatively inelastic, buyers or consumers of the good will bear most of the burden of the tax.
However, when tax is imposed on a good whose supply is relatively inelastic and the demand for the goods is relatively elastic, the producers or sellers would be responsible for the tax burden of the goods.
Generally, tax revenues are larger with respect to the inelasticity of demand and supply.
Answer:
Mandatory
Explanation:
The mandatory spending accounts for around two-thirds of the federal budget and is determined by existing laws that constitute programs such as the social secutity program.
Answer:
True
Explanation:
As we know that the ending balance of retained earnings is computed by considering the following equation
= Starting balance of retained earnings + net income - dividend paid
Since the net income which is come by subtracting the expenses from the revenue and the dividend paid is debited or credited at the time of passing the journal entries instead of retained earning account because these above accounts are got affected.
Like expenses account are always debited while the income account are always credited
