You are trying to convince your state government to reduce its incredibly high business taxes in an effort to promote the economic climate of your state. Your government officials respond by saying that reducing business taxes will cause tax revenue to plummet and the state can’t afford to reduce tax revenue at this time. You point out to the government officials that according to the Laffer curve you studied in economics class.

a. the politician is right, lower tax rates always lead to lower tax revenues so taxes should not be reduced if the state can't afford
b. changes in tax rates are always offset by increases in the tax base so that there is no effect at all on tax revenues
c. when tax rates are high, a rate reduction may lead to an increase in tax revenue as it will encourage more tax paying businesses to locate in the state.
d. tax revenues are likely to decrease, but the government will just decrease spending to offset these reductions.

Amarket that consists of all possible consumers regardless of their specific needs or wants is a

Jordan, inc. sells fireworks. the company’s marketing director developed the following cost of goods sold budget for april, may, june, and july. april may june july budgeted cost of goods sold $62,000 $72,000 $82,000 $88,000 jordan had a beginning inventory balance of $3,000 on april 1 and a beginning balance in accounts payable of $14,600. the company desires to maintain an ending inventory balance equal to 15 percent of the next period’s cost of goods sold. jordan makes all purchases on account. the company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. required prepare an inventory purchases budget for april, may, and june. determine the amount of ending inventory jordan will report on the end-of-quarter pro forma balance sheet. prepare a schedule of cash payments for inventory for april, may, and june. determine the balance in accounts payable jordan will report on the end-of-quarter pro forma balance sheet.

Upper a report about the decline of western investment in third world countries included this: "after years of daily flights comma several european airlines halted passenger service. foreign investment fell 400 percent during the 1990 s." what is wrong with this statement? choose the correct answer below. a. if foreign investment fell by 100 % comma it would be totally eliminated comma so it is not possible for it to fall by more than 100 %. b. the actual amount of the decrease in foreign investment is less than 100%. c. if foreign investment fell by 100%, it would be cut in half. thus, a decrease of 200% means that it would be totally eliminated, and a decrease of more than 200% is impossible. d. the statement does not mention the initial amount of foreign investment.