1/3/14 What is Positive Economics | What is Normative Economics Positive economics is economics that does not apply objectives to what an economy should be doing or what it “ought to be” doing. It ill describe equilibrium levels at certain prices and quantities but give no opinion on whether that is an appropriate price of quantity‚ It will examine the quantity theory of money and the interest rate while never stating whether an interest rate is good or bad. The “free market” is a system
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Beauty “Beauty: When the Other Dancer Is the Self” by Alice Walker is an essay describing her personal experience with what beauty truly is. Alice Walker is an African American writer who has won many awards for her writing. A few of these awards include a Pulitzer Prize and the American Book Award. In her autobiographical story “Beauty: When the Other Dancer Is the Self‚” she tells us the story of how she tragically lost and then finally regained her self-esteem after much agony. She tells a personal
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Property taxes – local taxes‚ immovable property/land tax‚ motor vehicle tax . (Lukas Szita) A property tax also known as millage tax is a charge on possessions that the holder is obligatory to pay. The tax is imposed by the governing authority of the area in which the property is placed; it can be a national government of country‚ a federated state‚ a county/region‚ or a municipality (In Slovak Republic property tax is the most important income for municipalities). We basically distinguish four
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PERCENTAGE TAXES SUMMARY (in ascending order) Rate | Description | 1/2 of 1% (0.005) | * PT /Final tax on shares sold in Local Stock Exchange | 0% | * Dividends/equity shares in Net Income of Subsidiaries | 1% | * IPO on share of stock over 33 1/3% * GR Tax on Banks‚ on interests‚ commissions and discounts with Maturity Period of More than 5 Years | 2% | * IPO on share of stock (25-33 1/3%) * Gas and water franchises | 3% | * PT on Domestic Carriers and Keepers
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Classification of Taxes Classification of taxes 1. As to subject matter or object A. personal‚ poll or capitation- tax of a fixed amount on individuals residing within a specified territory‚ without regard to their property‚ occupation or business. Ex. Community tax (basic) B. property- imposed on property‚ real or personal‚ in proportion to its value‚ or in accordance with some reasonable method or apportionment. Ex. Real estate Tax C. Excise- imposed upon the performance of an act‚ the
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Explain why the Philippines and California are affected by disasters in different ways California is a state on the west coast of the USA and the Philippines is an island country in Southeast Asia in the western Pacific Ocean. They are both considered hazard hotspots and frequently experience natural disasters. A natural disaster is the realisation of a hazard. California is an MEDC‚ the 6th largest economy in the world with a GDP of US$65000 per capita. However‚ despite the high risk of hazards
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leading manufacturer of home and commercial appliances. Under the accrual accounting method‚ estimated warranty costs are charged to operating expenses in the year of sales‚ and a corresponding liability is established. This liability is reduced when the actual warranty charges are incurred. The notes on the financial statements reveal that in 2004 Maytag estimated $132‚841 in warranty liability and made $121‚162 in warranty payments. Therefore‚ the warranty reserve at the end of fiscal 2004 totaled
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How did the Korean War affect Sino-American relations and shape foreign policies between the two countries? The Korean War‚ also known as the Forgotten War‚ represents an important turning point in the Cold War. It was fought from the 25th of June 1950 to the 27th of July 1953. Although this war only lasted three years‚ many would argue that it had extremely important and lasting effects on the Cold War in general‚ as well as the foreign relations between China and the United States. The Korean
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through its configuration or resources and competences with the aim of fulfilling stakeholder expectations." I feel that this gives a clear understanding to the term‚ as it involves the four key areas every organisation needs to manage; firstly‚ what areas the business wishes to operate within‚ i.e. that markets and its activities. Secondly‚ creating the advantage‚ the selling point‚ while recognising the environment it operates within is constantly changing. R Lynch (2006‚ p7) concurs with time
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How My Parents Raised Me As far as I can remember I have had a happy childhood. I don’t have a dramatic or a traumatic experience as to how my parents raised me like most of the other kids. My parents handled my wrongdoings and mistakes very calmly‚ although I can’t remember doing something that’s very bad. I guess you could say that I’m spoiled but I don’t think I am. Being an only child I think helped on making my punishments not that painful. But how my parents raised me is what made me the person
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