Complete the following statements regarding the general rules for the QBI deduction and how is it computed. Be specific.
a. The QBI deduction is available to (all/ corporate/ noncorporate) taxpayers. It applies to the qualified business income generated through (all buisness entities/ C and S corporations/ a sole proprietership, a partnership, or an S corporation) .
b. In general, the deduction for qualified business income is the (higher/ lesser) of:
1) % of qualified business income, or
2) % of modified taxable income.
c. The QBI deduction is a deduction (for/ from) AGI. Further, the deduction is available (only if the standard deduction is used/ only if the taxpayer itemizes deductions/ whether the taxpayer uses the standard deduction or itemizes deductions) .

Consider a small island country whose only industry is weaving. the following table shows information about the small economy in two different years. complete the table by calculating physical capital per worker as well as labor productivity. hint: recall that productivity is defined as the amount of goods and services a worker can produce per hour. in this problem, measure productivity as the quantity of goods per hour of labor. year physical capital labor force physical capital per worker labor hours output labor productivity (looms) (workers) (looms) (hours) (garments) (garments per hour of labor) 2024 160 40 1,800 14,400 2025 180 60 3,900 23,400

Employees of dti, inc. worked 1,600 direct labor hours in january and 1,000 direct labor hours in february. dti expects to use 18,000 direct labor hours during the year, and expects to incur $22,500 of worker’s compensation insurance cost for the year. the cash payment for this cost will be paid in april. how much insurance premium should be allocated to products made in january and february?

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.