In economics‚ the terms circular flow of income or circular flowrefer to a simple economic model which describes the reciprocal circulation of income between producers and consumers.[1][2] In the circular flow model‚ the inter-dependent entities of producer and consumer are referred to as "firms" and "households" respectively and provide each other with factors in order to facilitate the flow of income.[1] Firms provide consumers with goods and services in exchange for consumer expenditure and "factors
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Pastures Funeral Home Incorporated prepaid income treatment. Facts Peaceful Pastures Funeral Home Inc. is an accrual basis taxpayer who sells prepaid goods and services to clients that will be provided for them at the time of their death. Goods and services are refundable upon the purchasers request at any time until the contracts are fulfilled. Peaceful Pastures Funeral Home Incorporated is in need of determining the period of recognition for income provide from a prepaid service for which
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In addition to its direct effect on poverty‚ inequality also effects poverty indirectly through its impact on growth. Initial cross-country studies found that greater initial income inequality actually reduces future growth even after controlling for initial levels of GDP and human capital. Evidence predominantly suggests that inequality is bad for growth. The World Development Report 2000/01 concludes that better distribution is possible without a reduction in economic growth. In other words there
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Equilibrium Level of Income The Consumption and Saving Functions Consumption is the part of income spent on goods and services yielding direct satisfaction. It occupies the biggest chunk of the expenditure on output. Y= C+S Where Y= Income C= Consumption S= Saving Factors Influencing Consumption 1. Distribution of national income 2. Interst rate 3. Desire to hold cash 4. Price level 5. Population 6. Income 7. Taxes 8. Attitudes and values Consumption function is the relationship
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However‚ every income is taxable under income tax law‚ whether it is received in cash or in kind‚ whether it is capital or revenue income‚ but still some incomes are given exemption from tax. In this lesson we will study those incomes which are exempt from tax. Here are some of the important items of income‚ which are fully exempt from income tax and which can be utilised by a resident individual Indian assessee for the purpose of tax planning. ➢ AGRICULTURAL INCOME: Under the
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Gender Income Gap Diane Smith ENG 122 English Composition II Instructor Stephanie Derisi August 30‚ 2014 Gender Income Gap In American society today there is an imbalance in the gender income gap between men and women in the work force. Many factors such as discrimination‚ productivity‚ educational background and disproportional hours worked contribute to this ongoing challenge. While many are skeptical‚ others remain to have strong beliefs that women and men are treated equally. In most
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in. Income inequality is a touchy subject for some. For most though‚ it’s a subject that needs to be discussed in our society today. Minority households in my opinion seem to suffer more from income inequality than Whites. We should all want to know what the problem is. I don’t think it’s because whites have all the better paying jobs than minority workers. From my understanding of information gathered women and minorities continue to bring home less than white men because of the way income inequality
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INCOME INEQUALITY IN THE UNITED STATES OF AMERICA Still to date‚ the problem of income inequality is an issue of a great importance for million of African-Americans and others who struggle to improve their quality of life. It must be known by now‚ that economic injustice has had a devastating impact on black communities all across America. Issues such as inequality and racial discrimination in education‚ the social environment‚ and economics have gone on for too long‚ and it has been engraved
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The Elijah Heart Center is facing the financial distress common in specialized health care organizations. This is the combination of the need for improved technology‚ a reduced income‚ and the demand for expansion. Without the needed technology and expansion‚ there is little that the hospital can do to improve the income. The financial situation requires a combination of strategies to reduce costs and to make the wisest choices regarding acquiring needed technologies and expansion. One of the main
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admissions revenue (YMCA) 1‚200 Income taxes payable 6‚100 Capital Stock 50‚000 Retained earnings 29‚440 Dividends 11‚000 Admissions revenue 290‚200 Concessions revenue 17‚460 Salaries expense 62‚900 Film rental expense 87‚000 Utilities expense 6‚300 Depreciation expense: building 3‚000 Depreciation expense: fixtures and equipment 1‚500 Interest expense 8‚500 Income taxes expense 30‚000 ________
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