The earned income tax credit goes to
A. low-income working people.
B. non-working poor people living off of government assistance.
C. the retired.
D. all taxpayers regardless of income.
Answer: A
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Which of the following constitutes an implicit cost to the Asarta Manufacturing Company?
A. Payments of wages to its office workers B. Foregone interest income from using savings to pay for operating expenses C. Rent paid for the use of equipment owned by the Butters Machinery Company D. Payments using economic profits resulting from current production
________ taxes are paid by a buyer as a percentage of the market price of an item
A) Sales B) Wealth C) Payroll D) Property
Which of the following is a bank liability?
a. required reserves b. excess reserves c. actual reserves d. demand deposits e. loans
Monopolistic competition and perfect competition are different in that monopolistically competitive firms: a. cannot earn profits in the short run
b. face firm demand curves that are less elastic than perfectly competitive firms. c. face substantial barriers to entry. d. earn economic profits in the long run.