Answer:
1) A progressive tax is defined as a tax whose rate increases as the payer's income increases. That is, individuals who earn high incomes have a greater proportion of their incomes taken to pay the tax. A regressive tax, on the other hand, is one whose rate increases as the payer's income decreases.
2) The government has few choices of action to protect its domestic industries. It can implement trade barriers as for example the import quotas and tariffs on imported goods. The two are both lower the consumer's welfare. The tariffs usually would increase the prices of imported goods, therefore consumers would choose the domestic good, meanwhile the import quotas decrease the supply of imports and consumers are obligated to purchase domestic goods of prices higher than the imported goods.
3) Public good is a commodity or service that is provided without profit to all members of a society while private goods is a product that must be purchased to be consumed. There are few reasons for which the government's action is necessary to ensure the provision of public goods such as the very efficiency of this action, the goods and services might be beneficial not only for the purchaser, but other individuals, the value of the good and service becomes greater than what an individual can pay, and also it boosts the economic equity.
4) The government applies equal taxes and regulations to protect the competition. It needs to apply those in order to prevent the creation of monopoly.
5) The censorship has at its core to prevent or to minimalism one's knowledge or access to a product, therefore as a consequence it can increase the prices and have negative consequences on companies and economy in general.
Help with economics 25 points
1. What is the difference between progressive and regressive methods of taxation? Explain.
2. Identify actions a government can take to protect its domestic industries. Describe the effects that these actions have on domestic consumers.
3. Describe the difference between public goods and private goods. Explain why government action is necessary to ensure the provision of public goods.
4. What does the government do to protect competition in a free-market system? Explain why the government needs to take these actions.
5. How can censorship negatively affect economic activity?
Answer:
1, 2, 3, 4, 5 answered and explained.
Explanation:
1. A progressive tax is a kind of tax whose rate increases as the payer's income increases while for regressive tax, the tax rate rate increases as the payer's income decreases.
For example if an employee earns $1000 and taxed 10%, he pays $100 as tax.
For a progressive tax, if his salary increases to 1200, his tax will also increase to say 12%, the employee now pays $144. Hence, the higher the salary, the greater the amount employees pays as tax
For a regressive tax, if his salary increases to 1200, his tax will automatically decrease to say 9%, the employee now pays $108. Hence, the higher the salary, the lesser the amount employees pays as tax.
2. Actions the government can take to protect domestic industries include
- increase of import taxes; since imported goods now becomes higher, domestic products will be the first choice. Local goods are mostly cheaper for domestic consumers to purchase.
- closing its borders to discourage importation; more of the local producers will have to locally manufacture the imported goods and provide easier access of products to the domestic consumer
- granting tax waivers and financial supports for local industry development. Many domestic industries will be encouraged to build on local production. Domestic consumers will pay less since taxes are added to the cost of goods
- Provision of supporting infrastructures such as good roads, good transportation network, feasible loan facilities. Many domestic producers who may have been demotivated by the bottlenecks can now engage in profitable services, which helps competition and ultimately dropping the price of local goods for domestic consumers.
3. Public goods are goods produced by the government towards alleviating challenges of the citizens or offered as a free gift of nature for the welfare of the people without any cost. Private products are goods produced by private companies to earn a profit.
The major difference between public and private goods is profitability; public goods are solely for welfare with no attempt at making profit while private goods are manufactured for profit.
The reason why it is necessary for the government to ensure the provision of public goods include the size of investment needed for some public goods such as national defense, district water plant, flood control systems, traffic control systems, electrical generation and supply grid systems, street lighting etc. Private investors may not see it as commercially feasible yet its absence will affect the ease of livelihood of the citizens, hence government may be the only ones equipped with the capital to execute such projects.
4. The government can protect competition in a free-market system by applying equal taxes and regulations to all companies, irrespective of size. They can also protect the competition by offering financial supports and guidance to SMEs such as the provision of expansion and development loans for SMEs through micro-finance banks since the bigger banks may be indisposed to giving loans to SMEs while at same time giving such loans to bigger competitors.
The reason why the government needs to take these action is because the bigger firms are more competitive and may consider running the SMEs out of business through cartels tending towards monopolies. With the bigger firms in control, all other market forces become dependent on them and prices may be on the increase, which consumers - the citizens will have to pay for.
5. Censorship will negatively impair innovation; inventions in those censored areas may be drastically reduced. This then creates a form of monopoly at inordinate price offerings. In the end, other products that could have created source of tax, income for the sellers, utility for the consumers, job for the employees are not achieved; all economical factors for growth.
Censorship also reduces access to a product which may be widely demanded as a source of raw material, therefore creating artificial scarcity as the source supplies less than the demanded quantity thereby increasing the production cost. This ultimately increases the cost of goods, which if unsustainable can collapse organizations and negative impact the economy in general.
Which of the following is NOT an example of a federalist state?
a. Australia
b. The United States
c. Russia
d. The United Kingdom
e. Vatican City
The US government's reaction to American sugar plantation owners’ attempted coup in Hawaii in 1893 is indicative of Choose 1 answer: Choose 1 answer: (Choice A) A strong American support for imperialism; the US government immediately annexed Hawaii and embarked on plans to annex the Philippines and Cuba. (Choice B) B mixed feelings about entering into the imperialist game; the US government refused to cooperate with the coup. (Choice C) C widespread anti-imperialist sentiment throughout the United States, which strengthened the Anti-Imperialist League and prompted legislation outlawing any future territorial acquisitions outside of the US mainland.
Answer:
(A) strong American support for imperialism; the US government immediately annexed Hawaii and embarked on plans to annex the Philippines and Cuba.
Explanation:
The overthrowing of the Kingdom of Hawaii occurred on January 17, 1893, after Queen Liliuokalani was ousted from her throne. The incident happened on the island of Oahu by foreigners living in Honolulu, which were citizens of the United States.
They had the support of Minister John L. Stevens, so they could contact US Marines to "guarantee American interests". After the queen was overthrown, the rebels began the Hawaii Provisional Government which later changed to the Republic of Hawaii. Though the President at the time disapproved of this, the general sentiment was in support of American imperialism, which later paved the way for the annexation of the Philippines and Cuba, which started in 1898 for both countries.
Answer: The correct answer is B -- mixed feelings
Explanation: I thought the answer was A but on the test I just took the answer was B
Each island has an equilibrium point for ideal number of species. What would happen to an island's community if a new species colonizes an island already at equilibrium?
Answer:
The equilibrium of that island will be disturbed.
Explanation:
If a new specie is introduced into the ecosystem which is already in balance condition, the whole ecosystem is disturbed. It is because that the new specie feed on the organisms present in that particular environment and decrease occurs in the food availability for other species. It also decreases the population or sometime full extinction of that specie.
After a strong storm, a worker does not realize that a power transmission line has fallen on his car and is electrocuted while opening the car door. What is this an example of? Select the best option. Contacting Overhead Power Lines Contacting Energized Sources Using Extension or Flexible Cords Improperly
Thunderstorms are described as having hail one inch or larger in size with winds equal to or greater than 58 miles/ hour, and the further discussion can be defined as follows:
It most efficient strategy to avoid any contact with overhead power lines is to avoid any work that might result in touch with or close proximity to the wires.After some violent storm, an employee is unable to see that an electricity distribution line has fallen on the car & gets killed when opening the car door. By opening the door, the employee comes into contact with the metal frame, which is in contact with just an overhead power line.Therefore, the final choice is "Contacting Overhead Power Lines".
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[tex]PYTHAGOREAN THEOREM\\c^{2} = a^{2} + b^{2}\\ b^{2}=c^{2} -a^{2}\\ a^{2} =b^{2}-c^{2}[/tex]
1) x=9, because we can use the Pythagorean theorem, x^2 + 144 = 225, x^2 = 81
2) [tex]x=3\sqrt{8}[/tex], because 6^2 +6^2 = 72, [tex]\sqrt{72} = 3\sqrt{8}[/tex]
3) [tex]x=2\sqrt{3}[/tex], because [tex]x^{2} +7=19\\x^{2} =12\\x= 2\sqrt{3}[/tex]
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A ball is thrown vertically upward with an initial velocity of 32 feet per second. The distance s (feet) of the ball from the ground after t seconds is s equals 32t-16t^2. At what time t will the ball strike the ground? For what time t is the ball more than 12 feet above the ground
Answer:
a) t =2 sec
b) t = 0.5 sec
Explanation:
Given data:
a) set s=given equation to zero and solve for t:
s = 32t - 16t^2
0 = 32t-16t^2
32t = 16t^2
32 = 16 t
t = 2 seconds
b) set given equation equal to 12 and solve for t:
s = 32 t -16t^2
12 = 32t-16t^2
12 = 32t-16t^2
t^2 -2t + 0.75 = 0
t = 1.5, 0.5
hence t = 0.5 sec is right answer
Answer:
a) t =2 sec
b) 0.5s < t < 1.5s
Explanation:
Given data:
a) set s=given equation to zero and solve for t:
s = 32t - 16t^2
0 = 32t-16t^2
0 = t(32-16t)
t = 0
32 = 16 t
t = 2 seconds
Answer: The ball strikes the ground again at t = 2 seconds
b) set given equation greater than 12 and solve for t:
s = 32 t -16t^2
12 < 32t-16t^2
12 < 32t-16t^2
t^2 -2t + 0.75 < 0
0.5s < t < 1.5s
Answer: The ball is above 12 feet from the ground in the time interval of 0.5s < t < 1.5s
What preparation should be made for a hurricane that is likely to move onshore? Move to a high tide zone near the sea Move to a friend's place in a low lying area Know the nearest evacuation shelter for the zone Turn off the radio to avoid listening to uncertain news
Answer:
Know the nearest evacuation shelter for the zone
Explanation:
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