Answer:
An excise subsidy has only a substitution effect since the subsidy artificially lowers the price of the subsidized good causing the consumer to increase consumption of the good, but no income effect.
Explanation:
The above is true due to the fact that the consumption of goods increases. This could have been reduced had it been that, there was never any excise subsidy on those goods.
6 Months can be a life insurance policy normally be backdated from the date of the application.
For Example:- Suppose, he/she purchased a policy with maturity duration of 20 years in March 2022 and backdated it to October 2021, the maturity benefits of the endowment policy can be reaped a year before in October 2041 than the initial date in March 2042.
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Answer: corporate social responsibility practice
Explanation:
Corporate social responsibility occurs when organizations contribute to societal goals by supporting practices that are ethically oriented and have a positive effect on the economy.
Since Patagonia donates at least 1% of profits to support environmental causes and is contributing positively to the economy, then Patagonia is practicing corporate social responsibility practices.
Answer:
a. Straight-Line method:
Year depreciation = (Cost - Residual value) / useful life
= (130,000 - 10,000) / 6
= $20,000
2019 = $20,000 2020 = $20,000
b. Double declining.
= Twice the rate of straight-line.
= 1 / 6 * 2
= 33%
2019 2020
= 130,000 * 33% = (130,000 - 42,900) * 33%
= $42,900 = $28,743
c. Units of Production:
Rate per unit = (Cost - residual) / Number of units in lifetime
= (130,000 - 10,000) / 1,000,000
= $0.12 per unit
2019 2020
= 180,000 * 0.12 = 140,000 * 0.12
= $21,600 = $16,800
Answer:
The right to own private property.
Explanation:
A property right is the exclusive or sole authority which determines the legal ownership of resources and how these resources are to be used, whether by individuals or government.
Hence, when property rights are well defined and markets are competitive, the market equilibrium is consistent with economic efficiency.
This ultimately implies that, when the ownership of resources are well defined and markets are competitive, all benefits from trade between the consumers and producers of goods and services has been maximized, and each units creating more benefit to the consumers than cost have been produced in the economy.
In this scenario, Patrick lives in a nation whose government embraces capitalism. He owns his own home and car, as well as his own business and building. Patrick maintains ownership due to the right to own private property.
