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3 years ago

How is the current progressive tax system unfair?

1 answer:

3 0

It can be interpreted as unfair because a progressive tax system implies that different people, or different businesses, have to pay different levels of taxes, instead of a fair rate for everyone.

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Which of the following statements regarding the opportunity cost of producing potatoes and the production possibilities frontier

Temka [501]

Answer: A. The island of Atlantis has an increasing opportunity cost of producing potatoes and the production possibility frontier is bowed outward.

Explanation:

When there is an increasing opportunity cost of producing a good, the Production Possibilities Frontier (PPF) will be bowed out to represent that as more of the good is being produced, more of another good is being given up to do so.

For the island of Atlantis therefore, as they produce more of potatoes, they are giving up being able to produce whatever more and more of other goods they produce which is therefore leading to a PPF that is bowed outward.

8 0

3 years ago

nternational trade can have big effects on domestic markets. For both an import good and an export good (in other words, address

belka [17]

Answer:

International business is a affects the domestic economy in many ways.

Explanation:

The impacts of international trade can vary from the supply and demand of a particular good or product and their impact on the domestic market functioning. The price changes in the market affect the wages received by the workers as trade opens new foreign markets.

The supply of the products is depended on the demands of the consumers which may be affected by the government policies, and many socio-cultural aspects.

International trade leads to the increase of the value of the products and thus increases in the demands and the competitiveness of the market, for this, the government provides a subsidy to the domestic infant industries to protect them from getting removed for the competition.

Due to the competition, the firms try to sell their product at a lower or higher cost thereby increasing the quantity demanded by the customer. Thus the equilibrium of the price and quantity demanded changes.

3 0

3 years ago

Feb. 2 Wrote a $350 check to establish a petty cash fund. 5 Purchased paper for the copier for $14.55 that is immediately used.

Nataly [62]

Answer:(1) Dr: petty cash $350, Cr: Cash $350, (2) Total delivery expense $16, Total Milleage expense $71, Total postage expense $65.55, Total merchandise inventory( Transportation -in) $42.4, Total office supplies $81.32, Petty Cash Balance $204.67 (3) a) Dr : Expenses $326.29, Cr : Cash $326.39 (b) Dr: petty cash $490, Cr: Cash $490

Explanation:

Journal entry to establish the petty cash fund

Dr : petty cash $350

Cr: : Cash $350

Journal entry to record the reimbursement

Dr : Expenses $326.39

Cr: Cash $326.39

Journal entry to record the increase in fund amount

Dr:petty cash $490

Cr: cash $490

Total delivery expenses $16

Total mileage expenses $71

Total postage expenses $65.55

Total merchandise inventory (Transportation -in) $42.4

Total office supplies $81.32

Amount received for reimbursement $326.39

Petty Cash Balance $204.67

7 0

3 years ago

On March 31, the end of the first month of operations, Barnard Inc. manufactured 15,000 units and sold 12,000 units. The followi

WARRIOR [948]

Answer and Explanation:

The computation of the unit cost of goods manufactured is shown below:

<u>Particulars variable costing absorption costing</u>

variable cost of $108 $108

goods manufactured ($1,620,000 ÷ 15,000)

Fixed manufacturing

cost $14

($210,000 ÷ 15,000)

unit cost of goods

manufactured $108 $122

3 0

2 years ago

Jerome, Sheila, Gary, and Ella agreed to purchase a tract of land and make it available for use as a free playground for neighbo

lesya [120]

Answer:

Yes

Explanation:

The damages can be recovered as Jerome and Gary hung the playground swing improperly. A child was injured due to their negligent actions. The case will be on Meadowbrook Playground and not on the individual person who has committed the mistake. According to law, the damages can be recovered as the enterprise owned the whole property, and due to their carelessness in the installation of swing, the accident took place. The child's parent has every right to recover damages from the playground owner.

7 0

3 years ago