An amusement tax of $1 on every ticket sold to a concert is an example of a(n)
a. poll tax
b. progressive tax
c. unit tax
d. income tax
e. property tax
C
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Increases in net investment generally result in
A) higher levels of capital stock and lower levels of depreciation. B) lower levels of capital stock and higher levels of depreciation. C) lower levels of capital stock and lower levels of depreciation. D) higher levels of capital stock and higher levels of depreciation.
Price tags attached to goods for purchase at a store would be an example of money's role as a
A) medium of exchange. B) store of value. C) unit of account. D) none of the above
If a firm is experiencing diminishing marginal returns to labor,
a. the additional increments to output become smaller as more labor is used b. total output falls as more labor is used c. total output remains constant as more labor is used d. additional increments to output rise as more labor is used e. total revenue falls as more labor is used
As output rises, AFC gets ________________.
Fill in the blank(s) with the appropriate word(s).