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How would the a US Citizen whose income is in the top one percent talk about scarcity and trade-off?
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What basic economic problem do both higher-income and lower-income nations have in common?
scarcity of resources
Is 40 percent gross income same with 40 percent net income?
No.
What sort of economic incongruties appeared to be established as farm prices were raised by government subsidized scarcity?
Income
Does federal income tax apply to soveregn citizen that does not work for them and is not a federal citizen?
HjfjfnfnrnrheuurhrbffnfnjfjfjrnrnYes i agree
Explain Economics is about making choices in the presence of scarcity?
scarity and choice are inseperable at all levels of decision- making: At the consumer 's level: 'scarcity ' means limited income and 'choice ' means allocation of income to the purchase of different goods and services that he maximises his satisfaction. At the producer 's level: 'scarcity ' means limited resources and 'choice ' means allocation of resources to the production of different goods and services in a manner that he maximises his profits. At the national level: 'scarcity ' means limited national income and 'choice ' means usage of resources in a manner that social welfare is maximised.
Would you have to make choices if you had unlimited resources?
unlimited resources would mean that scarcity does not exist. And if scarcity does not exist, then of course, there's no opportunity cost. we can buy anything we want with enough income.
In 2002 Ortega's nominal income rose by 4.6 percent and the price level rose by 1.6 percent. What is Ortega's real income?
the nominal income rose by 3 percent
What is top 20 percent income in US?
As of this year the top twenty percent of income in the United States is "a household income of just over $100,000. The top 10 percent of earners have a household income of more than $148,687."
What is the Percent of income breakdown on expenditures?
10 percent
If a US citizen with only US sourced income who like all US citizens must pay income tax on all her global income will she be taxed on her US income in as well if she becomes a Hungarian citizen too?
You best ask this question to tax experts that know both country's laws. She will have to pay taxes to the US government while still a citizen of the US. You should also look into the same question if she is a dual citizen.
How many US Citizen's do not pay income taxes?
38,000,000
What percent of income does Obama pay in income taxes?
90%
