Enter the taxpayer's gross income for each of the following independent situations.note: if an amount is zero, enter "0".taxpayer'sgross incomea. darrin received a salary of $50,000 in 2018 from his employer, green construction. $b. in july 2018, green gave darrin an all-expense-paid trip to las vegas (value of $3,000) for exceeding his sales quota. $c. megan received $10,000 from her employer to her pay medical expenses not covered by insurance. $d. the $15,000 is included because blake's wife had a nonforfeitable right to the payment. $e. clint collected $50,000 as the beneficiary of a group term life insurance policy when his wife died. the premiums on the policy were paid by his deceased wife's employer. $

From year one to year two, there is (Deflation,Inflation) at an annual rate of _12.5%. In year one, $40.00 will buy 5 baskets, and in year two, $40.00 will buy ___5.7 (6) baskets. This example illustrates that, as the price level falls, the value of money:_increases___

Explanation:

a) Data and Calculations:

The price of a basket of goods in year one = $8.00

The price of the same basket of goods in year two = $7.00

Difference in price (reduction in price) = $1 ($8 - $7)

Percentage reduction in price = $1/$8 * 100 = 12.5%

With $40/8, 5 baskets were bought

With $40/7, 5.7 baskets will be bought

b) Economists are always wary of prolonged deflation or continuous general falling prices of goods because it depicts an economy that is seriously weakening at its foundation.  As a fallout, companies slow production, reduce output, lay off workers, and reduce salaries (earned income).