The government pays for roads, schools, and emergency services through the collection of taxes on income, property, and sales. The money is then allocated in the budget for various public services. Both federal and state governments contribute to these expenses, with an important chunk of it going towards education.
The government pays for public goods such as roads, schools, and emergency services through the collection of taxes and drafting budgets. These taxes can be imposed on income, property, and sales. The revenue raised is then allocated for various public services. For example, on a local level, funds are allotted for education, police, and fire departments. State governments allocate money for state colleges and universities, and maintenance of state roads and bridges. On the national level, money goes to things such as defense, Social Security, and maintenance of federal courts.
Figure 1.2 highlights the importance of these services, by showing a fire department ambulance rushing to help, paid for by the government through the tax base. The aim is to assure that everyone makes a contribution and to prevent free riders, hence taxes are often enforced through law. It is worth noting that while federal government spending often gets the majority of attention, state and local government spending is also substantial, with a significant proportion going toward education.
Local governments, just like state governments, receive revenue from grants and transfers from other levels of the government with property tax collections being another primary source. Essentially, the government ensures that public goods and services are funded by managing taxpayers' money and allocating it where it's most needed.
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Answer:
Gross income refers to the income of an individual before taxes or any other deductions. It includes all type of income from all sources.
The list is as follows:
a. Excluded from
b. Included in
c. Included in
d. Excluded from
e. Excluded from
f. Included in
g. Included in
h. Included in
i. Included in
j. Excluded from
Answer:
Market risk premium = 9.2%
Explanation:
The market risk premium is the difference between the market returns and the t bill yield. To calculate the market risk premium of this duration we will need to subtract the average annual t bill yield from the average annual return on the standard and poor's 500 index.
14.8-5.6=9.2
Answer:
Variable per hour is $7
total variable costs for 700 hours=$4900
Fixed costs is $600
Explanation:
Under the high-low method,variable cost formula is as stated below
variable cost=highest maintenance cost-lowest maintenance/machine hours at highest maintenance cost-machine hours at the lowest maintenance cost
highest maintenance cost is $5500
lowest maintenance is $2700
machine hours at highest maintenance cost is 700 hours
machine hours at lowest maintenance cost is 300 hours
variable cost=($5500-$2700)/(700-300)
variable cost=$7
Fixed cost=total cost-total variable cost
total variable cost for 700 hours =$7*700=$4,900
Fixed cost=$5,500-$4900
fixed cost=$600
Answer:
Supply chain management encompasses every parts of a product cycle from the producer to consumer, while logistics is a segment of the supply management.
Explanation:
Supply chain management has to with how flow of goods and services are managed and this comprises all procedures that help in converting raw materials into finished goods. Supply chain management sees to how raw materials, work-in-process inventory, and of finished goods are stored and moved from the producer to the final consumers. The aim of the supply chain management is to ensure customers derive maximum satisfaction and value and the company enjoy a competitive advantage in the market.
On the other hand, logistics is just one of the components of supply chain management which sees to how goods are stored and moved from the organisation to the outside. That is logistics comprises all the activities that have to do with the transportation, warehousing of goods.
Answer:
β2 should have a positive sign
Explanation:
The regression equation is:
βwght = β0+β1cigs+β2faminc+μ
The equation tells us that the birth weight of a child is dependent on factors like cigarette consumption and family income.
β1 should have a negative sign because smoking during pregnancy has an adverse effect on birth weight. So there would be a negative correlation between birth weight and cigarette consumption.
β2 should have a positive sign. This is because while pregnant, a family with more income has the ability to provide better prenatal care and also better nutrition to the expectant mother. Therefore we have a positive correlation.
In a regression model concerning effects of smoking and income on infant birth weight, the coefficient 'b2' associated with family income is expected to be positive. Higher income levels are associated with improved prenatal care and nutrition, which contribute positively to infant birth weight.
The equation you presented is a form of a multiple regression model where 'bwght' is the dependent variable (infant birth weight), and 'cigs' and 'faminc' are independent variables representing the number of cigarettes smoked and family income, respectively. The terms 'b0', 'b1', and 'b2' are the model's parameters. In the context of this model, 'b2' represents the change in the infant's birth weight for a one-unit change in family income, holding all else constant.
The most likely sign for 'b2' is positive. This is because higher family income is generally associated with better access to prenatal care and nutrition which in turn positively impact the infant's birth weight.
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Answer: Coach
Explanation:
Like a coach does in sports, so does a coach do in business. They work closely with employees so that they can bring out the best in them by motivating them, helping them develop their skills and providing feedback and reinforcement so that they can know where to improve upon.
They can either be peers in the company or they can be managers but the bottom-line is that they aim to help employees do their best so that the company benefits as well.