a. The population of this study consists of all subscribers to Bloomberg Newsweek in North America.
b. Quantitative variables are those that can be measured numerically. Annual income is a quantitative variable since it can be expressed in numbers.
c. Categorical variables are those that can’t be quantified. They can only take on a fixed number of values. In this case, the question ‘do you own an American express credit card’ can take on only two values – Yes or No. So, the ownership of an American Express credit card is a categorical variable.
d. The data above gives two different values that describe the same population at the same time, it involves cross-sectional data.
Time-series data refers to data that is collected at equally spaced time intervals. For e.g. production of wheat in each year for the last 10 years, the amount of rainfall received over each of the last five years etc.
Cross-sectional data refers to data from many (similar)individual groups at one given point in time. For e.g. Prices of different varieties of corn on a particular day.
e. On the basis of the survey, Bloomberg Newsweek might infer that at least some of its subscribers with an income of $75,000 or more have an American Express credit card.
Answer:
c. $455.75
Explanation:
The computation of the quarterly payments is shown below:
= Balance amount ÷ PVIFA factor for 2.5% at 12 years
where,
Balance amount is
= $5,500 - $5,500 × 15%
= $5,500 - $825
= $4,675
And the PVIFA factor for 2.5% at 12 years is 10.2578
Refer to the PVIFA table
So, the quarterly payments is
= $4,675 ÷ 10.2578
= $455.75
In the case of quarterly payments, the rate is one fourth and time period would be 4 times
Answer:
Correct Statement is D
Explanation:
Provided information,
The Jewelry Store sells pair of earrings, where the discount is of 15% on the price of second pair.
This states that the consumer will always be willing to pay the cost of first pair in full, whenever the customer buys such pair, whether alone or with some additional pair.
Thus the willingness to pay for any pair after purchase of first pair of earrings will always be less than the cost of first pair, as the amount paid for first pair is $40 and that for second pair costing $40 but purchased for $34 as because there was discount on second pair.
In the given case John purchased the second pair because there was discount, else John has bought the same pair for $40.
Thus his willingness for second pair is always lower than the price of first pair.
Correct Statement is D
Answer and Explanation:
a. The computation of Kiyara’s deduction for qualified business income is shown below:-
Kiyara's Share of income is
= 50% × $332,000
= $166,000
Max qualified business deduction is
= 20% × $166,000
= $33,200
b. The computation of Kiyara’s net investment income tax liability is shown below:-
Net investment income tax liability = $166,000 × 3.8%
= $6,308
c. The computation of Kiyara’s self-employment tax liability is shown below:-
Kiyara is not earning Jazz Corp.'s self-employment taxable income because Kiyara is not doing work for Jazz Corp.
Hence, the tax liability for self-employment is 0.
d. The computation of Kiyara’s additional Medicare tax liability is shown below:-
Additional medicare tax liability
= $282,000 - $200,000
= $82,000 × 0.9%
= $738
Answer: -$45 billion.
Explanation:
Net Exports refers to Exports out of a country less imports into the country and it is a component of GDP using the Expenditure method. The other components include Government Spending, Investment and Consumption all of which are given in the above question.
The Net Exports are therefore;
GDP = Consumption + Investment + Government Spending + Net Exports
3,542 = 2,343 + 865 + 379 + Net Exports
3,542 = 3,587 + Net Exports
Net Exports = 3,542 - 3,587
Net Exports = -$45 billion
The Net Exports are negative which means that more goods were imported than were exported.
