1. according to the keynesian-cross analysis, if mpc stands for marginal propensity to consume, then a rise in taxes of t will:
a. decrease equilibrium income by t.
b. decrease equilibrium income by t / (1 – mpc).
c. decrease equilibrium income by t (mpc) / (1 – mpc).
d. not affect equilibrium income at all.

Serious question, which is preferred in a business? pp or poopoo?

Royal motor corp. generates a major portion of its revenues by manufacturing luxury sports cars. however, the company also derives an insignificant percent of its annual revenues by selling its sports merchandise that includes apparel, shoes, and other accessories under the same brand name. which of the following terms best describes royal motor corp.? a. aconglomerate b. a subsidiary c. adominant-businessfirm d. a single-business firm

Cherokee inc. is a merchandiser that provided the following information: amount number of units sold 20,000 selling price per unit $ 30 variable selling expense per unit $ 4 variable administrative expense per unit $ 2 total fixed selling expense $ 40,000 total fixed administrative expense $ 30,000 beginning merchandise inventory $ 24,000 ending merchandise inventory $ 44,000 merchandise purchases $ 180,000 required: 1. prepare a traditional income statement. 2. prepare a contribution format income statement.