EBK FOUNDATIONS OF ECONOMICS
EBK FOUNDATIONS OF ECONOMICS
8th Edition
ISBN: 8220103632225
Author: PARKIN
Publisher: PEARSON
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Chapter 12, Problem 1IAPA
To determine

To explain:

The used car market in United States, the number of used cars that are traded per year and the average price for trade. The way market allows users to stay away from lemons and the role of government in the market should also be explained.

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Frederick Jones operates a sole proprietorship business in Trinidad and Tobago. His gross annual revenue in 2023 was $2,000,000. He wants to register for VAT, but he is unsure of what VAT entails, the requirements for registration and what he needs to do to ensure that he is fully compliant with VAT regulations. Make reference to the Vat Act of Trinidad and Tobago and explain to Mr. Jones what VAT entails, the requirements for registration and the requirements to be fully compliant with VAT regulations.
Can you show me the answers for parts a and b? Thanks.
What are the answers for parts a and b? Thanks
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