Which of the following is a direct tax?
a. excise tax
b. tax on corporate profits
c. property tax
d. sales tax
b
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In profit centers
a. Managers are difficult to evaluate because there is no simple metric of how well they performed b. Managers typically do not have the information to run their division efficiently c. Managers' decisions can affect other divisions d. Managers typically do not have the incentives to run their division efficiently
The smaller the share of the fringe firms in an oligopoly market, the smaller will be the profit earned by the dominant firm
Indicate whether the statement is true or false
If the marginal propensity to consume is 0.75, net taxes are fixed at $2,000 and real income rises by $12,000 . by how much will real consumption spending increase?
a. $9,000 b. $8,000 c. $7,500 d. $7,000 e. $10,000
Suppose the market for good X has a four-firm concentration ratio of 0.70. Having worked for the four largest firms in the industry, you know the sales for these four firms are given by $2,000,000, $2,250,000, $2,500,000, and $2,750,000. Based on this information, we know that sales for the remaining firms in the industry are:
A. $5,505,000. B. $6,875,000. C. $4,071,430. D. $9,433,320.