Answer:
Laffer curve.
Explanation:
Laffer Curve is developed by
Arthur Laffer. It is used to show the relationship between tax rates and the amount of tax revenue collected by governments of a particular country. Laffer curve is used to demonstrate Laffer’s argument that sometimes cutting tax rates can increase total tax revenue.
Laffer curve shows the relationship that occurs between the tax rate and the amount of tax revenue collected
The relationship between the tax rate and the amount of tax revenue collected is called the LAFFER CURVE curve. This curve shows that TAX CUT CAN INCREASE TAX REVENUE.
The drawing of a laffer curve has been attached
<span>One is through innovation. New innovation meant new
jobs for the nation. One example is Bheki Kunene, a young entrepreneur of South
Africa. At age 27, he founded Mind Trix Media providing jobs and a profit. Next
is it improves economy by being able to partner with big companies in the other
countries.</span>
<u>Solution:</u>
In order to record the merchandise inventory on LCM with the correct amount, the following Journal entry will be passed in the books of account:
Date account and explanation debit credit
Dec 31 The cost of goods sold (250000-200000) 50000
Merchandise inventory 50000
(To record inventory on LCM)
Therefore, the cost of goods sold will be debited with an amount of $50000 and the Merchandise inventory will be credited with the same amount of $50000.
Answer:
Find in the excel file attached detailed adjusting entries required for all transactions in the question.
Explanation:
Please note the analysis of each transaction done under the heading "particulars".
<u>Solution:</u>
If the price floor is $2, then the new market rate is also SAME ( that is $2). The reason behind this is because price floor is manadatory. A price floor is the lowest price which is set up by the legal enforcemnt agency and it is must that price floor must be above the equilibrium price.
At $2 price, number of Frisbees that are sold are only 2 million. The reason behind is becuase this is the quantity that is demanded.