A corporation’s income is taxed
A. immediately after it is deposited in the bank.
B. only before it is distributed to its owners.
C. only after it is distributed to owners.
D. both before and after it is distributed to owners.
Answer: D
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Compared to a firm that does not statistically discriminate but has equally poor information about the true qualifications of potential employees, the firm that does statistically discriminate is likely to be less profitable rather than more
profitable. Indicate whether the statement is true or false
If Sam has $60.00 each week to spend on gasoline and coffee, and their respective prices are $1.50 per gallon and $3.00 per pound, which of the following equations represents his budget line?
A) $60.00 = $1.50/Qg + $3.00/Qc B) $60.00 = Qg /$1.50 + Qc /$3.00 C) $60.00 = $1.50(Qg) + $3.00(Qc) D) $60.00 = $1.50(Qg) - $3.00(Qc)
Consider a U-shaped long-run average cost curve that has a minimum efficient scale at 6,000 units of output. In this case, this industry would be
A) an oligopoly if the market quantity demanded is 18,000 units. B) perfectly competitive if the market quantity demanded is 20,000 units. C) an oligopoly if the four-firm concentration ratio is more than 10 percent. D) monopolistically competitive if the market quantity demanded is 12,000 units.
Which one of the following describes the current state of economic development in the United States?
A. Employment is declining in the manufacturing sector and growing in the service sector. B. Employment is declining in the manufacturing sector and growing in the agricultural sector. C. The lack of well-defined property rights in the United States means that entrepreneurs do not expect to capture the benefits of innovations they bring to the marketplace. D. The United States is running out of natural resources, and therefore it will soon experience a drop in the rate of economic growth.