In Which of the Following Cases Would There Be an Effect

question 189

Multiple Choice

In which of the following cases would there be an effect on the value of the U.S.consumer price index,but not on the value of the U.S.GDP deflator?

• A)All of the truck tires that are produced by a certain company in South Korea are sold to the U.S.military,and the price of these tires decreases.
• B)All of the truck tires that are produced by a certain company in California are sold to the U.S.military,and the price of these tires decreases.
• C)Most of the bananas that are produced by a certain company in Honduras end up in U.S.grocery stores,and the price of these bananas increases.
• D)Most of the earth-moving machines that are produced by a certain company in Illinois are exported to other countries,and the price of these machines increases.

Explain the concept of time orientation (short-term vs. long-term) in cultural contexts.

Identify key components and cues used to distinguish social class and social status.

Distinguish between phenotype, race, and other biological and socially constructed concepts.

Understand the skills necessary to empathize with and understand people from different cultural backgrounds effectively.

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Definitions:

FICA-Medicare Tax

The portion of the Federal Insurance Contributions Act tax that funds Medicare, deducted from employees' wages and also paid by employers.

Federal Income Tax

The tax levied by the IRS on the annual earnings of individuals, corporations, trusts, and other legal entities.

Withholdings

The portion of an employee's earnings that is deducted and sent directly to the government by the employer for tax purposes.

Salaries Expense

The total amount paid to employees in salary form over a specified accounting period, considered an operating expense.