The consumption of fixed capital in each year's production is called:
A. Indirect business taxes
B. Inventory reduction
C. Depreciation
D. Net investment
C. Depreciation
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An advantage of a negative income tax is _____
a. it is more paternalistic than in-kind transfer payments b. it could replace many existing transfer programs c. it eliminates the incentive to substitute into leisure d. it has no excess burden
In which of the following areas are partnerships common?
a. Contract jobs won through bidding b. A large multinational corporation c. Small firms producing semi-finished goods d. Professional group practices
A tax accounting firm produces 500 tax returns units when the market price is $150 per return and produces 700 tax returns when the market price is $170 per tax return. Using the midpoint method, for this range of prices, the price elasticity of supply is about
a. 2.67. b. 0.67. c. 0.4. d. 0.125.
One problem with the effectiveness of Pigovian taxes is:
A. identifying those who are affected by the externality. B. knowing whether to impose it on the consumer or producer. C. knowing what the value of the tax should be. D. none of these are problems.