How do households dispose of their income
How do households dispose of their income?
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1. Federal personal income tax is the major component in Personal taxes of which has increased over the years.
2. The smallest fraction of personal income disposition is Saving.
3. Most of household income goes to consumer spending. There are several categories of spending categories:
a. Durable goods are those with life of three or more years.
b. Nondurable goods include things such as food and clothing.
c. Services are today more than one half of all consumer spending, which demonstrates that ours is a service-oriented economy.
Problem 2 Consider Garfield's utility function given as U(x1, x2) = x1x2, wher
A perfectly competitive industry achieves allocative efficiency since: w) goods and services are produced at the lowest possible cost. x) services and goods are produced up to the point where the last unit gives a marginal benefit to consumers equivalent to the margin
Who are the major players in international trade today? Besides Japan, what other Asian nations play significant roles in international trade?
Cost of debt= (1-tax rate)* interest rate * (debt ÷capital employed)Cost of equity = risk free rate + market premium (equity shareholders funds÷ capital employed)
Why private goods are produced through the market?
Which of the given describes a condition in which a good or service is produced at the lowest probable cost: w) productive efficiency. x) allocative efficiency. y) marginal efficiency. z) profit maximization Please
Briefly describe High operating leverage?
What divergences arise between equilibrium and an efficient output when spillover costs? How might government correct this divergence?
Briefly explain the term Average cost and Marginal cost?
Explain: “Affluence tomorrow requires sacrifice today.”
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