Dave is a plumber who uses the cash method of accounting. This year Dave requested that his clients make their checks payable to his son, Steve. This year Steve received checks in the amount of $62,000 for Dave's plumbing services. Which of the following is a true statement?
(a) Dave is taxed on $62,000 of plumbing income this year.
(b) Steve is taxed on $62,000 of plumbing income this year.
(c) Steve is taxed on $62,000 of income from gifts received this year.
(d) Dave may deduct the $62,000 received by Steve.
(e) All of these are true

answerbland allison silver purchase act);

answercountries with higher real income per capita tend to have higher levels of this index.

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.