Double taxation refers to
A) individuals paying taxes on wage income and individuals paying taxes on dividends.
B) corporations paying taxes on capital gains and individuals paying taxes on wage income.
C) corporations paying taxes on profits and individuals paying taxes on dividends.
D) corporations paying taxes on profits and individuals paying taxes on wage income.
C
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Capital gains are taxed at a different rate than income and this reduces revenues the government receives. All else equal, what would happen if capital gains taxes were eliminated?
A) They would have to be replaced by a consumption tax. B) The government would not be able to spend money on any programs. C) Everyone would have to pay less in taxes. D) The deficit would increase because of lack of revenues.
Suppose that steel produced this year is used to produce a car sold next year. The value of the steel ________ included in GDP this year as ________
A) is; an intermediate good B) is not; an intermediate good C) is; an adjustment to inventories D) is not; an adjustment to inventories
Tacos in a Box sells its hard shell tacos, taco seasoning, and taco sauce as a package and does not sell the individual products separately. This is an example of ________.
A) pure bundling B) mixed bundling C) an all-or-nothing offer D) two-part pricing
The demand for ice cream is very elastic. This fact indicates that the demand for ice cream workers is
a. one b. inelastic c. elastic d. seasonal e. recession-proof