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Ed and his wife Kathie own all of the stock of Crispin, Inc. Kathie is the president and Ed is the vice president. Kathie and Ed are paid salaries of $500,000 and $350,000, respectively, each year. They consider the salaries to be reasonable based on a comparison of salaries paid for comparable positions in comparable companies. They project Crispin's taxable income for next year, before their salaries, to be $975,000. The decide to place their three teenage children on the payroll and to pay them total salaries of $125,000. Each of the children will work about five hours per week for Crispin.
a. What are Ed and Kathie trying to achieve by hiring the children?
b. If the IRS were to audit Crispin do you think they would allow the children's salaries? If not, how would the IRS treat these payments?
Describe the two major types of administrative agencies: executive and independent. Why is it important to have independent agencies?
Assume that the Fed decided engages in an open market purchase of $100 million dollars. If the required reserve ratio is 10%, and if banks hold an additional 2% of their assets in bonds, calculate the total change in the money supply.
Do you believe that a “culture of entitlements” exists that contributes to the budget crisis? Does this concept carry over to corporate culture?
If the economy is competitive so that factors of production are paid the value of their marginal products, illustrate what is the share of total income that will go to land.
q. consider an economy where consumers utility function is given as uclc-12l2 . where c is consumption and l is labor.
The questions below are about working with the Cobb Douglas model α= 0.3 and A= 3. write the equation for output. find the MPK and MPL in terms of K and L.
Illustrate what is happening to the U.S. real exchange rate in each of the following situations. Explain. The U.S. nominal exchange rate is unchanged, but prices rise faster in the U.S. than abroad.
Every may either 'cooperate' with its rival or 'cheat' in every period of play. If both cooperate, they earn $100 every in that period.
find marginal cost of last unit produced. What is firms percentage mark-up of price over marginal cost.
Guided Response: Review the discussion board posts of your classmates. Note their analysis of those who gain and lose from a tariff. Respond to at least two of your classmates.
We know that regression analysis relates to the correlation rather than causation between variables. A critical step in this analysis is the selection of the variables to be related. Start by recognizing that the dependent variable is the number of h..
Luis wants to have $2,000,000 in net worth when he retires. to achieve this goal, he plans to invest 10,000 each year (starting one year from now) into an account that earns 10% interest compounded annually. The amount of time before Luis can retire ..
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