If the Consumption Function Is Defined as C = 800

question 3

Multiple Choice

If the consumption function is defined as C = 800 + (0.75) YD, the marginal income tax rate is t = 0.5, and autonomous investment decreases by 50, then the budget surplus will

• A)remain unaffected
• B)decrease by 100
• C)decrease by 80
• D)decrease by 40
• E)decrease by 10

Identify the components of quick assets.

Understand the accounting treatment for product warranty liabilities and how to estimate and record warranty expenses.

Calculate the warranty expense to be reported in the income statement based on estimated repairs.

Distinguish between different types of payroll items and their tax treatment characteristics.

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