The public sector includes provision of public goods services such as the military, police departments, infrastructure, public transportation, public education, and health care, as well as those who serve the government itself, such as elected politicians.
The public sector, also known as the state sector, is a sector of the economy that includes both general populace services and public enterprises. Public sectors include the military, police departments, infrastructure, public transportation, public education, and health care, in addition to those that work for the government on its own, such as elected representatives. The public sector may provide assistance that a quasi cannot be denied (for example, street lighting), services that benefit society as a whole instead of just the individual who utilizes the service. Public enterprises, also known as state-owned enterprises, are identity commercial enterprises owned by the government that sell a variety of private goods and services on a commercial basis.
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Who pays additional Medicare tax?.
The employer pays additional Medicare Tax to the employee in form of wages.
Anytime a business pays an employee more than $200,000 in wages or railroad retirement benefits in a calendar year, regardless of the employee's filing status, they are required to deduct the Additional Medicare Tax.
A component of the Medicare insurance program is paid for by a federal employment tax known as the "Medicare tax," often known as the "hospital insurance tax." In a similar manner to Social Security tax, Medicare tax is deducted from an employee's wages or paid as a self-employment tax. The U.S. Treasury manages trust funds that include taxes for Medicare and Social Security. Medicare Part A costs are covered by Medicare tax, which is held in the Hospital Insurance Trust Fund.
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Which of the following describes the marginal product of labour?
a.
the increase in output obtained from a one-unit increase in labour
b.
the increase in labour necessary to generate a one-unit increase in output
c.
the additional profit created with a one-unit increase in labour
d.
the additional cost created with a one-unit increase in labour
Correct answer will be option A. Marginal product of labor is the increase in output obtained from a one-unit increase in labor.
The marginal product of labor (MPL) is the transition in outcome that ultimately resulted from employing an additional unit of labor in economics. It is a characteristic of the production function and is determined by the amount of tangible capital and labor already in use. The marginal product of a production factor is usually defined as the variation in amount of variance by a unit or insignificantly small change in the amount of that factor used while going to hold all other input usages constant in the production process. The transformation in outcome (Y) per unit increase in labour is then the marginal result of labor (L).
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you are starting your first job and you are asked to complete some paperwork on your first day. which form will determine how much money is withheld from your paycheck for taxes?
What is the difference between a market economy a mixed economy and a command economy?.
Market economies and command economies are polar opposites in terms of how economic activity is structured.
The key point of contrast is who has control over the variables in production and the processes that determine price. The preservation of as much economic discretion as is practical is the aim of mixed market economies. These governments typically lack the authority to control and regulate the economy. Governments with extensive economic control are often connected with command economies, which place a greater emphasis on upholding and requiring equal opportunities.
An economy with a market is one where things happen at random. It is not governed by a single organization; rather, supply and demand for products and services dictate it. A command economy is an alternative where most, if not all, firms are governed by a centralized government that controls all output sources.
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How has automation affected the economy?.
Answer: It affected it via automation, jobs, and wages
Explanation: So, how does automation affect our economy? Well, I'll answer it. So think about it, workers who work with machines are faster and mostly better at the job than people who do it "old-fashioned." Therefore, this reduces both the cost and prices of goods/services (this is because the person is not working harder and longer to produce a good or service.) So, this makes the consumers happier, because they feel richer. Therefore, the consumers will be willing to spend more on a good or service, making more jobs possible.
Why do banks charge overdraft fees?.
Answer:
Overdraft fees occur when you don't have enough money in your account to cover your transactions
Autocratic managers tend not to _____.
Answer:
Autocratic managers don't entertain any suggestions or consider initiatives from subordinates. This style of management is effective for quick decision making but is generally not successful in fostering employee engagement or maintaining worker satisfaction.
Explanation:
The opportunity cost of watching a movie will be equal to;
А) The time lost while watching the show
B)The pleasure that could have been enjoyed watching TV instead
С )The pleasure enjoyed by watching the show
D) The amount paid to buy the tickets
Answer:
А) The time lost while watching the show
Explanation:
Opportunity cost is the value of the next-best alternative when a decision is made; it's what is given up.
A and D seems correct, but the wording on D makes A the better answer.
which financial aid program is needs-based and pays wages up to a certain number of hours?
A work-study program is a sort of financial aid program that is needs-based and provides earnings up to a set number of hours. Option B is the right answer.
The Work-Study program, formerly known as the College Work-Study Program, is a federally financed program in the United States that aids students with the costs of post-secondary education.
This is a "need-based" part-time job program that allows students to earn money to help pay for their education. The award notification amount is the maximum amount that can be earned through the FWS program.
FINANCIAL AID is money given to students to help them achieve their educational goals. Federal Student Aid is an office of the United States Department of Education that distributes financial aid to students each year through federal grants, loans, and work-study funds.
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What does the government do in a mixed market economy?.
A mixed economy often combines a robust governmental sector with the characteristics of a market-based economy.
Government involvement in managing the use of certain resources and the ability to exercise control over private sector enterprises make mixed economic systems different from laissez-faire systems. The private sector may be taxed by governments in an effort to redistribute wealth, and they may also use tax revenue to further social goals.
Government involvement in mixed economies often takes the form of protective tariffs, tax rebates, specific credits, monetary stimulus, and public-private partnerships. These inevitably cause economic distortions, but they serve as tools to accomplish particular objectives that could be successful despite the distortion they cause.
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What are the 3 main economic systems that are used today?.
Answer:
Free market
Command
Mixed
Mason compares two plans for an online book club. Which equation can be used to solve for the number of books, b, for which the cost of plan a equals plan b? plan a no membership fee $12 per book plan b $75 membership fee $3 per book.
The equation to get the number of books, b, at which the costs of both strategies are equivalent is: 12·b = 75 + 3·b
What is the equation?The equals sign is a symbol used in mathematical formulas to denote the equality of two expressions.
The three primary forms of linear equations are point-slope, standard, and slope-intercept.
A formula that explains how two expressions on each side of a sign are connected.
It typically has an equal sign and one variable. similar to this: 2x - 4 = 2.
So, the planned books are:
Plan A-
No membership charge
Each book costs $12.
Plan B-
$75 membership fee
Each book costs $3.
Plan A's price for b books is equal to Ca = 12b.
Plan B's book cost is calculated as Cb = 75 + 3b.
When the price of Plan A and Plan B are equal, we have;
Ca = Cb
Now, we obtain: 12·b = 75 + 3·b
Therefore, the equation to get the quantity of books, b, at which the costs of both strategies are equivalent is: 12·b = 75 + 3·b
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Suppose brian is in the market for a used textbook and the campus bookstore is having a sale. If the initial price of the used book is $77 and the discounted price is $59 , what is the percentage change in the book price? round your answer to two places after the decimal.
The percentage change in the book price is[tex]$\mathbf{3 5 . 2 9 \%}$[/tex].
What is percentage change? In any quantitative study, the terms relative change and relative difference are used to compare two numbers while taking into account the "sizes" of the things being compared, i.e. dividing by a standard or reference or starting value. The comparison is presented as a ratio, which is a number without units. Calculating the percentage difference between two values involves dividing the absolute value of the difference between two integers by their average. The answer will appear as a percent rather than a decimal when you multiply the result by 100. Formula for Calculating Percentage Difference As previously said, the absolute value of the change is divided by the average of the values, then multiplied by 100 to determine the percentage difference.Data provided in the question:
Market price of the used book[tex]$=\$ 85$[/tex]
Discounted price[tex]$=\$ 55$[/tex]
Now,
The percentage change in the book price will be calculated as:
[tex]$=\frac{\text { Markat price - Discounted price }}{\text { Market price }} \times 100$[/tex]
on substituting the respective values, we get
[tex]& =\frac{85-55}{85} \times 100 \\[/tex]
[tex]& =35.29 \%[/tex]
Hence,
The percentage change in the book price is[tex]$\mathbf{3 5 . 2 9 \%}$[/tex].
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Is net income more or less than gross?.
Gross income is higher than net income
gross income includes total revenue or income, whereas net income refers to net profits after all expenses taxes, and deductions are taken out. Your personal net income is typically your take-home pay
formula for net income: Net Income = Total Revenue — Total Expenses.
To calculate net income take your gross income and subtract all of your business expenses—marketing or advertising costs, travel or office expenses tax payments,etc. —as well as any deductions you may be eligible for such as a home office space retirement plan, or legal and professional fees.
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To determine your level of net worth, subtract your liabilities from your positive net equity. True or False?
False: You cannot calculate your net worth by subtracting your liabilities from your positive net equity.
What is the difference between liabilities and equity?Liability frequently refers to being held accountable for something, but it can also refer to owing someone money or services. For example, a homeowner's tax obligation could be the amount of property taxes owed to the city or the amount of income taxes owed to the federal government.
In the context of finance, equity refers to ownership of assets with potential liabilities such as debts. For accounting purposes, equity is calculated by subtracting liabilities from the asset value.
In the context of finance, equity refers to shareholders' ownership interest in a corporation, whereas liabilities are debts or obligations owed to third parties. To calculate equity, subtract assets from liabilities.
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Why should the government lessen the economic gap between rich and poor?.
A sense of fulfillment and self-worth are destroyed by inequality, which also damages long-term social and economic development and the fight against poverty. Crime, sickness, and environmental destruction can all result from this.
Three basic measures are available to a society if it desires to reduce economic inequality: redistribution from high earnings to low earners; making sure that a ladder of opportunity is universally accessible; and an inheritance tax.
The sum of all assets, such as cash in bank accounts, investments, pension funds, and the market worth of a home, is referred to as wealth. Money received in the form of income is typically measured on a monthly or annual basis.
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Why are there many more mixed market economies than command economies in the world today?.
Today's globe has more mixed market economies than command economy because more economic systems are designed to provide producers and consumers the flexibility to make economic decisions.
As far as how economic activity is organized, market economies and command economies are the two complete opposites. Who controls the production factors and the procedures that set pricing is the main area of distinction. The goal of mixed market economies is to preserve as much economic discretion as feasible. The management and regulation of the economy are largely outside the purview of these governments.
Governments that heavily control the economy are associated with command economies, which are more concerned with maintaining and requiring equitable chances. In a market economy, activity happens at random. It is not governed by a centralized body; rather, the supply and demand for products and services decide it. As an alternative, a command economy is one in which all sources of production are controlled by a centralized government that controls most, if not all, firms.
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Interview a local buine owner. Find out what he or he feel about government regulation that affect hi or her buine. Ak how the buine owner would change government policie and program
The state or region's growth can be promoted entrepreneur by the government through economic development initiatives.
Numerous laws and regulations are created by governments to direct corporations. Taxes, trade, subsidies, regulations, interest rates, licencing, and other policies can all change as a result of changes in fiscal policy, which the government can implement. To adapt to shifting laws and regulations, businesses should be adaptable.
Governments can enact tariffs, which increase taxes to imported goods, or subsidies, which raise prices and make native goods more appealing by taxing the general public and transferring the money to an industry. Increased levies, fees, and regulations can cripple businesses or entire industries.
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why are land, capital, labor, and entrepreneurs important for a producer?
Land, capital, labor and entrepreneurs are important to a product as they are the factors of production needed to produce that product.
A factor of production is an economic term that describes the means necessary to produce goods and services. Factors of production are traditionally divided into three main groups.
Labor, capital, natural resources, and entrepreneurs join them to produce the goods and services that are put on the market.
Natural resources are used to describe all types of natural resources that exist. Resources are scarce and limited.
Capital is used almost exclusively as a term for physical capital and can be divided into fixed and variable physical capital. For example, capital includes all buildings and machinery constructed from natural resources.
Human capital or education is the knowledge and skills that can generate and drive capital or contribute to production. These terms illustrate the difficulty of precisely defining each element of production.
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The invisible hand ensures that economic prosperity is distributed equally. a. True b. False
True : The invisible hand ensures that economic prosperity is distributed fairly.
What is Invisible Hand in Business ?The invisible hand ensures equitable economic success. A "market failure" occurs when the market fails to distribute resources in an efficient manner. Productivity is defined as the amount of goods and services produced per unit of labour input. Inflation raises the value of money.
Through a network of interconnectedness, the metaphor of the invisible hand describes how self-interested people behave in a free market economy. Because of this dependency, producers are encouraged to produce what is socially necessary, even if they are only concerned with their own personal well-being.
The invisible hand theory contends that if everyone in the system acts in their own best self-interest, the outcome will be in the best interests of the economy without any outside intervention. The results will always be superior to those of a centrally planned and governed economy.
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What is ownership value?.
Explanation:
Ownership Value . , if any – means the value, if any, of the Public Entity's ownership interest in the Real Property and, if applicable, Facility that existed concurrent with the Public Entity's acquisition of such ownership interest.
which of these is an example of restrictions that government places on the use of business property?
In the US, the Fifth Amendment of the Constitution grants the government the right to use its eminent domain authority to take property for a public purpose as long as the owner is fairly compensated.
The definition of domain
The internet-specific term "domain" can refer to both the internet's structure and the organization of a company's network resources. A domain is typically a field of study or a management discipline.
A domain name is, to put it simply, the name of a website. It is the text that appears after .When someone asks how to find you online, you normally respond with your domain name.
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how can national insurance affect a pharmacy business?
Answer:
Achieving universal health coverage will require robust private sector engagement; however, as many low- and middle-income countries launch prepayment schemes to achieve universal health coverage, few are covering products from retail drug outlets (pharmacies and drug shops). This case study aims to characterize barriers and facilitators related to incorporating retail drug outlets into national prepayment schemes based on the experience of the Tanzanian National Health Insurance Fund’s (NHIF) certification of pharmacies and accredited drug dispensing outlets.
which savings account will earn you the most money everfi
In comparison to a savings account that only pays basic interest daily, one that compounds interest everyday will yield a larger return.
What is a bank savings account?Money that you don't need right now can be safely stored in a savings account. You can use it to save money for a specific objective, like a big purchase or a safety net fund, and it might earn interest. Interest is credited to every U.S. Bank savings account.You can keep the money you don't plan to use right away in savings accounts, which can be a secure location. Planning for immediate requirements, like an emergency fund, as well as longer-term objectives, like saving money for a down payment on a house, can be facilitated by using these accounts.Fundamental Savings Account. These accounts, also referred to as passbook savings accounts, are a fantastic place to start learning about interest-bearing accounts and monetary savings. Money market savings accounts, certificates of deposit, and online savings accounts are just a few examples.To Learn more About savings account Refer To:
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Answer: 1. High-Yield Savings Accounts
2. Money Market Accounts
3. Certificates of Deposit (CDs)
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Explanation:
Which phrase describes the substitution effect?
Which of the following is true about marginal cost? The marginal cost will consistently fall with an increase in production. Marginal cost can be found at the intersection of a firm's budget constraints and production function. In the long run, every firm's marginal cost must equal zero. Marginal cost is the change in total cost that results from a single unit increase in the quantity produced.
Correct answer will be option 1. The marginal cost will consistently fall with an increase in production.
The marginal cost in economics is the change in the total cost of production that results from making or generating one additional unit. Divide the change in manufacturing costs by the quantity shift to calculate marginal cost. The goal of marginal cost analysis is to determine when an organization can achieve scale savings in order to optimize production and overall processes. If the cost of production of one extra unit is less than the each price, the producer may profit. The concept of marginal cost is important in managerial accounting because it can help an organization optimise its manufacturing through scale savings.
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Complete question:
Which of the following is true about marginal cost?
The marginal cost will consistently fall with an increase in production.Marginal cost can be found at the intersection of a firm's budget constraints and production function. Marginal cost is the change in total cost that results from a single unit increase in the quantity produced.In the long run, every firm’s marginal cost must equal zero.Which statement is the BEST example of a point of view opposed to free trade?
A. Mutually lowering tariffs produces gains on both the supply and demand side.
B. Skilled worker migration works to reduce poverty.
C. Sheltering young industries allows them to grow and compete with foreign competitors.
D. Comparative advantage benefits developing nations.
Answer: A. Mutually lowering tariffs produces gains on both the supply and demand side.
Explanation: This shows this because if you lower tariffs trade becomes more common.
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Answer: C. Sheltering young industries allows them to grow and compete with foreign competitors.
Explanation:
Is food and clothing a fixed expense?.
Answer:
No I do not think so.
Explanation:
What are the ways to reduce wealth gap between poor and rich?.
Governments can reduce inequality through tax relief and income support or transfers (government programs like welfare, free health care, and food stamps), among other types of policies.
The system or group of people in command of an organized society, often a state, is known as the government. The legislative branch, the executive branch, and the judicial branch make up the government in its widest meaning.
The government serves as both a mechanism for creating policies and an organisational instrument for implementing them. Many governments have some kind of constitution, which serves as a declaration of their governing principles and ideology. Although there are many different sorts of organisations that practise governance.
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What is the main features of mixed economy?.
The main features of mixed frugality
Request deals are conducted freely between Buyers and Sellers. The right to retain and manage one's own things, both physical and immaterial. People are allowed to take pitfalls in the pursuit of accumulating or expanding wealth.
A system that has rudiments of both capitalism and illiberalism is called a mixed frugality. In a mixed frugality, private property is defended and certain profitable freedom in the use of capital is permitted, but government intervention in the frugality to further social pretensions is also permitted.
Pros
Due to request- grounded impulses, effectiveness and productivity have increased. The smallest parts of the population admit only minimum weal safeguards. Allows for the setting of strategic precedences by the government through profitable policy.Cons
Doesn't help government intervention's request- distorting effects. Regulatory prisoner may do as business interests push for favorable regulations. Increasing levies to fund weal state programsFor such more question on mixed economy
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