Mr. ortega earns a monthly salary of $8,000. based on mr. ortega’s form w-4, the tax tables require withholding $900 per month for income taxes. mr. ortega has authorized his employer to deduct $380 per month for medical insurance and $30 per month for a charitable contribution to the humane society. assume a fica tax rate of 6%, a medicare tax rate of 1.5%, and an unemployment tax rate of 6% on the first $7,000 of income. based on this information, mr. ortega’s net pay for january 31, year 1 is

answer; that person may have a larger tax bill to pay on income taxes;

rational decision making is a multi-step process for making choices between alternatives. the process of rational decision making favors logic, objectivity, and analysis over subjectivity and insight. the word “rational” in this context does not mean sane or clear-headed as it does in the colloquial sense.

hope this

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

a

explanation:

reducti0n

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