Why might stores choose to list $5 items as two for $10?
To what does tax progressivity refer? Why might stores choose to list $5 items for “two for $10”? To encourage customers to buy more than one item 🙂 … So it’s not relevant what your tax rate is, if you earn 50 000 a year, then this is your gross income.
What is likely to happen if a borrower is late on a payment for a credit card account?
What is likely to happen if a borrower is late on a payment for a credit card account? … The credit card company cancels the card after the first tardy payment. The credit card company doubles the credit limit. The credit card company applies a penalty rate, increasing the card’s interest rate.
Which tax uses the same rate for all income?
The next chunk of your income is then taxed at 12%, and so on, up to the top of your taxable income. The progressive tax system ensures that all taxpayers pay the same rates on the same levels of taxable income. The overall effect is that people with higher incomes pay higher taxes.
What are the advantages of a bank savings account quizlet?
One advantage of a regular savings account is that it has high liquidity, meaning that you can get your money out easier. One disadvantage of a regular savings account is that it has low interest rates.
What does tax progressivity refer?
To what does tax progressivity refer? The relation of tax rate to income.
What are the advantages of a bank savings account economics?
Savings Account Advantages
Beyond keeping your funds safe, savings accounts also earn interest, so it pays to keep any unneeded funds in a savings account instead of accumulating cash in your checking account, where it will likely earn little or nothing.
How can I fix late payments on my credit card?
The process is easy: simply write a letter to your creditor explaining why you paid late. Ask them to forgive the late payment and assure them it won’t happen again. If they do agree to forgive the late payment, your creditor will adjust your credit report accordingly.
Can a creditor remove a delinquency?
Creditors are not required to remove derogatory accounts from your credit report if the information is accurate. However, some creditors may be willing to negotiate a removal if you pay your account in full or make a reasonable payment offer.
Can a delinquency be removed?
Late payments remain in your credit history for seven years from the original delinquency date, which is the date the account first became late. They cannot be removed after two years, but the further in the past the late payments occurred, the less impact they will have on credit scores and lending decisions.
What are the four characteristics of a good tax?
Four characteristics make tax a good tax and they are: certainty, equity, simplicity and efficiency. Certainty is characteristics by which every tax payer must be certain how much tax does he or she own, when payment of tax is due and how it should be paid.
Why a progressive tax system is good?
Supporters of the progressive system claim that higher salaries enable affluent people to pay higher taxes and that this is the fairest system because it lessens the tax burden of the poor. … Taxes do not discourage high earners from earning more, and the low tax rate encourages the poor to strive to earn more.
What is the correct statement about regressive taxation?
You’re Paying A Regressive Tax If You Pay The Same Percentage Of Your OC. Income In State Income Tax As A Person Who Makes Four Times As Much As You.
What is the major disadvantage of having a regular savings account?
Three disadvantages of savings accounts are minimum balance requirements, lower interest rates than other accounts/investments, and federal limits on saving withdrawal. If you’re fortunate enough to have extra money for long-term goals, first, pat yourself on the back!
What is interest on savings accounts Why do banks pay interest quizlet?
interest is the payment people receive when they lend funds, or allow someone else to use their funds. people receive interest on a saving plan for as long as funds are in the account. stockholders have a claim against the property and income of a corporation only after the claims of all creditors have been met.