Answer:
False
The diamond-water paradox is illustrated by stating that the marginal benefit of the services provided by doctors and nurses is relatively lower than the marginal benefit of the services provided by major film stars. This implies that the supply of doctors and nurses is larger than the demand while the demand for major film stars is larger than the supply.
Explanation:
The marginal utility derived by film consumers from major film stars is higher than the marginal utility derived by patients from doctors and nurses. This is because consumers of the services of major film stars are willing to pay more for the services than consumers of the services of doctors and nurses. Though health is more crucial to life than films, but consumers place more utility value on films than they do on their health, especially after attaining the basic sound health. This actually explains the diamond water paradox, where consumers value diamond and are willing to pay more for diamond than they are willing to pay for life-sustaining water. In a layman's language, people are more willing to value the satisfaction they derive from one more additional film than they are to value the satisfaction they derive from additional healthcare. That means that people only care for the basic in healthcare. But, they can stake more to acquire more diamond.
The answer is B. accurately reflect the change in production.
Answer:
The correct answer is letter "C": FICA.
Explanation:
FICA (<em>Federal Insurance Contributions Act</em>) tax is a mandatory deduction taken from employees' payment to cover elder American's Social Security and Medicare. It is a 12,4% deduction financed by two parts: half of that amount is taken from the worker's paycheck and the other half is paid by the employer.
Answer:
Date Description Dr. Cr.
Dec 31 Sales discounts $200
Allowance for sales discounts $200
Explanation:
Expected sales discounts. $10,000 × 2% = $200
As the discount is expected and according to the accrual accounting concept the expenses accrued or expected to incurred should be recorded in the period in which revenue of that expense is recorded. Discount of 2% is expected to be availed by the customer amounting sales of $10,000. and it will be availed after year end as discount period will end after year end.
Answer:
A key reason for Bretton Woods' collapse was the inflationary monetary policy that was inappropriate for the key currency country of the system.
Explanation:
The US decision to suspend gold convertibility ended a key aspect of the Bretton Woods system. The remaining part of the System, the adjustable peg disappeared by March 1973.
