Rubin owned a van that he leased to his friend, Bruno for his food delivery business in 2018. The duration of the lease was for 5 years with $15,000 annual rent. In 2020, Bruno's business was greatly impacted because of the COVID-19 pandemic as he lost a number of contracts to deliver food to his corporate clients based in the city. Bruno realised that he could not afford the annual rental payment for the van unless the situation changed. He discussed his business downturn and financial difficulties with Rubin. He also complained that Rubin did not disclose that the van had a faulty air conditioning system which spoiled some of his food items on the way to deliver them. Rubin denied Bruno's accusation, however promised to reduce the rental amount to $5,000 until the business condition improved.
In 2021, Bruno secured a huge contract with a major public hospital for providing meals to their patients. Bruno's earnings from the business increased exponentially. Rubin demanded from Bruno that not only did he have to pay the full rental amount from 2021, but also the shortfall for the year of 2020 forgone by Rubin.
Advise Bruno, with reference to the relevant legal principles, whether he must pay all the amounts claimed by Rubin.
Question 2: 9 marks
Neil and June are students finishing their business degree and are good friends. In order to pay his tuition fees, Neil runs a small coffee shop in front of the business faculty building of the University. June offers to help him by preparing homemade cakes and pastries based on her mother's famous recipes. Neil says that he cannot pay her although he promises June that if she provides him with enough cakes and pastries to last the summer, he will buy her an Apple MacBook Pro to pursue her passion in graphic design (worth $3000). June jokes with Neil that if he does not buy her the MacBook, she will take him to court and Neil just laughs. In the next six months, June works 20 hours a week preparing cakes and pastries for Neil's business.
Advise June, with reference to relevant legal principles, whether she is legally entitled to the MacBook as promised by Neil.
Administration. This is an example of which of the following types of government intervention? Question 15 options: public financing of private provision " restriction or mandate of private sale or purchase tax C subsidy public provision Save Question 16 (3.33 points) The European Fiscal Compact requires Question 16 options: C centralization of all European government debt issues. C a self-correcting mechanism for central government deficits is just another name for the European parliament all European countries to be members of the European Central Bank. Save Question 17 (3.33 points) From a long-run perspective, US government revenues have average approximately of GDP? Question 17 options: 10% 18% 35% 40% 6% SaveQuestion 13 25 pts Which of the following would NOT cause real GDP growth from one year to the next? Increase in the number of hours worked per year Increase in the prices paid by consumers A better form of management style that improves workers' productivity All of the above would increase real GDP Question 14 2.5 pts Suppose a country's GDP is $3,526,000,000 in 2019 and then $3,349,000,000 In 2020. What is the country's growth in GDP from 2019 to 2020? 10 -5% 024% Not enough informationQUESTION 15 which of the following counts as US GDP? 50 Boeing 737 produced in Seattle and sold to Chinese airline Air China 5000 Focus produced by a Ford company in Beijing, China O 10,000 bottles of expensive wine imported from Northern Italy, Brescia, consumed in San Diego 5 million copies of Adele CDs produced in London, and purchased by US Adele fans QUESTION 16 As published by the BEA in September, the Nominal GDP for the second quarter of 2019 is and the real GDP growth rate the second quarter of 2019 is O $ 17.03 trillion, 3% O $ 21.34 trillion, 2.1% C $ 17.03 trillion, 1.2% O $ 19.25 trillion, 1.2%QUESTION 30 1. Table 23-6 The table below contains data for the country of Batterland, which produces only waffles an d pancakes. The base year is 2013. Year Price of Quantity of Price of Quantity of Waffles Waffles Pancakes Pancakes 2010 $2.00 80 $1.00 100 2011 $2.00 100 $2.00 120 2012 $2.00 120 $3.00 150 2013 $4.00 150 $3.00 200 Refer to Table 23-6. In 2010, this country's nominal GDP was $260 $440 $620 $760 QUESTION 31 Sheri, a U.S. citizen, works only in Germany. The value she adds to production in Germany i +'s included in both German GDP and U.S. GDP in German GDP, but is not included in U.S. GDP ET C in U.S. GDP, but is not included in German GDP in neither German GDP nor U.S. GDP QUESTION 32 Disposable personal income is the income that "households have left after paying taxes and non-tax payments to the government businesses have left after paying taxes and non-tax payments to the government households and noncorporate businesses have left after paying taxes and non- tax payments to the government households and businesses have left after paying taxes and non- tax payments to the government QUESTION 33 Gross domestic product adds together many different kinds of goods and services into a singl e measure of the value of economic activity. To do this, GDP makes use of C market prices " statistical estimates of the value of goods and services to consumers. prices based on the assumption that producers make no profits the maximum amount consumers would be willing to payBlackboard QUESTION 5 1 points Save Anew Table 12-17 TAX A TAX B TAX C TAX D INCOME AMOUNT OF TAX AMOUNT OF TAX AMOUNT OF TAX AMOUNT OF TAX $50,000 312 500 (259%] 315,000 (309%) $10.000 (2014) 316 000 30%) 100,000 $25,000 (259%) 525.000 (25%) 1325.000 (25%%) $15,000 (1915) 200.000 350.000 (25%) $40.000 (2096) 380,000 (3096) $15,000 7 5461 Refer to Table 12-17. A proportional tax is illustrated by tax O &C. Ob. A O c. B. Od.D. Remaining Time: 17 minutes, 56 s QUESTION 6 w Question Completion Status: Which of the following contributes to the projected rise in government spending on Social Security and Medicare as a percentage of GDP? a. Increasing life expectancyes Ob. Falling fertility rates c. Increasing health care costs d. All of the above are correct. 1 points Saw QUESTION 7 Vertical equity states that taxpayers with a greater ability to pay taxes should a. contribute a larger amount than those with a lesser ability to pay. Ob be less subject to tax distortions that lead to deadweight losses. Oc. contribute a decreasing proportion of each increment in income to taxes. O d. be less subject to administrative burdens of a tax. 1 points QUESTION 8 ments on taxpayers are said to have
