The share of aggregate income held by middle-income households in 1970 was 62%, whereas that held by upper-income households was 29%. the corresponding figures in 2014 were 43% and 49%, respectively. the models describing the fall and the rise in the share of the aggregate incomes of these two groups are approximately linear over the period under consideration.† (a) find the mathematical models describing the percent share of aggregate income held by each group from 1970 through 2014. (let t denote the time, in years, with t = 0 corresponding to the beginning of 1970.) middle-income households y = incorrect: your answer is incorrect. upper-income households y = incorrect: your answer is incorrect. (b) find the time when the aggregate income held by upper-income households first exceeded that held by middle-income households. (give the calendar year in which the change occurred.)

Answers

The term you hear more often is actually income INequality: The situation in which there are huge differences between how much people earn (some people earn a lot and some very little).

Income equality is the opposite: the lack of huge differences in learning. 
TAX_RATE = 0.20 STANDARD_DEDUCTION = 10000.0 DEPENDENT_DEDUCTION = 3000.0 # Request the inputs grossIncome = float(input("Enter the gross income: ")) numDependents = int(input("Enter the number of dependents: ")) # Compute the income tax taxableIncome = grossIncome - STANDARD_DEDUCTION - \ DEPENDENT_DEDUCTION * numDependents incomeTax = taxableIncome * TAX_RATE # Display the income tax print("The income tax is $" + str(round(incomeTax,2)))

Explanation:

We can use round function to enable the program to output number with two digits of precision.

The round function will take two inputs, which is the value intended to be rounded and the number of digits of precision. If we set 2 as second input, the round function will round the incomeTax to two decimal places. The round function has to be enclosed within the str function so that the rounded value will be converted to a string and joined with the another string to display the complete a sentence of income tax info.

Foreigners respires cost income $-110

The answer is stated below:

Explanation:

The items which will appear in which account is stated below:

Balance Sheet -  It is the one which records the assets and the liabilities of the company.

Income Statement - It is the one which records the income as well expenses incurred by business.

Cost of goods manufactured schedule - It is that schedule which states the items related to the manufacture of the goods.

1. Direct labor - It is the item of the Cost of goods manufactured schedule.

2. Raw materials inventory - It is the item of the Cost of goods manufactured schedule.

3.  Work in process inventory - It is the item of the Cost of goods manufactured (COGM) schedule.

4.  Finished goods inventory - It is the item of the Cost of goods manufactured  (COGM) schedule.

5. Indirect labor - It is the item of the Cost of goods manufactured schedule.

6. Depreciation on factory machinery - It is the item of the Balance Sheet.

7. Work in process -  It is the item of the Cost of goods manufactured  (COGM) schedule.

8.  Finished goods inventory - It is the item of the Cost of goods manufactured  (COGM) schedule.

9. Factory maintenance salaries -  It is the item of the Income Statement.

10. Cost of goods manufactured - It is the item of the Cost of goods manufactured  (COGM) schedule.

11. Depreciation on delivery equipment - It is the item of the Balance Sheet.

12.  Cost of goods available for sale -  It is the item of the Cost of goods manufactured  (COGM) schedule.

13. Direct materials used -  It is the item of the Cost of goods manufactured  (COGM) schedule.

14.  Heat and electricity for factory - It is the item of the Income statement.

15. Repairs to roof of factory building - It is the item of the Income statement.

16. Cost of raw materials purchases - It is the item of the Cost of goods manufactured  (COGM) schedule.

Correct

c. Low-income developing countries are catching up to high-income industrial countries.

Explanation:

The evidence which shows that low income developing countries are catching up to high-income industrial countries could be found in the series of developmental strides made by some countries like Rwanda, Kenya, Tanzania, Indonesia, Vietnam etc over the years. Most of their achievements is at par with most European countries in different sectors such as educational, and social sectors.

The answer is provided below

Explanation:

The explanation has been attached.

It should be noted that:

Income tax expense = $448,000 × 29%

= $448,000 × 29/100

= $448,000 × 0.29

= $129,920

Other comprehensive income will be the unrealized holding gain on the security which will be:

= $89,000 × (100% - 29%)

= $89,000 × 71%

= $89,000 × 0.71

= $63,190

Further explanation has been attached.


An inexperienced accountant for Grouper Corp. showed the following in the income statement: income b

.

Step-by-step explanation:

.

Step-by-step explanation:



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