Answer:
<h2>
Social security</h2>
Explanation:
<em>A transfer payment includes a donor and a recipient and the donor gives up something without receiving any thing in return. </em>
A transfer payment is redistribution of wealth and income by government without receiving any good or service in return. Such payment is on exhaustive because neither they absorb resources nor create any output. Social security, welfare and financial aid are examples of transfer payment. Transfer payments are not included in government spending o calculate gross domestic product.
In economics transfer can be made between entities and individual such as governmental bodies and private companies, it cab be involuntary and voluntary.
Answer:
The journal entry is as follows:
On April 29,
Salaries A/c Dr. $1,250,000
To social security taxes payable 75,000
To medicare taxes payable 18,750
To Federal withholding taxes payable 250,000
To salaries payable 906,250
(To record the payroll for the week)
Answer:
1 = They are Buyers 2= They are buyers. 3=They are sellers.
Explanation:
.
Answer:
Material cost + Labor cost are called ‘Prime Costs’
Labor cost + Overhead cost are called ‘Conversion Costs’
Explanation:
Prime cost is defined as material cost+Labor cost. All the material costs and labour costs are included in the definition of the prime cost.
Conversion cost is defined as Labor cost+ overhead cost. All the costs related to labor and overhead are included in the definition of Conversion cost.
Answer:
The government should increase the rate of inflation.
Explanation:
In adaptive expectations, agents shape their future expectations based on what has happened in the past. Thus, if the central bank intends to reduce unemployment, it should, for example, institute an active monetary policy. This is because, as the Phillps Curve shows, inflation variation and unemployment are inversely correlated, so decreasing unemployment requires increasing inflation.