Which of the following categories of taxes provides funds for Social Security and Medicare?
a. Personal income tax
b. Corporate income tax
c. Excise tax
d. Payroll tax
d
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Why might equipment costs be short-run costs in one business but long-run costs in another?
a. The size and complexity of a business contributes to the nature of its capital costs. b. Companies in business for a long time have established credit with equipment vendors. c. Some equipment is poorly made and does not last through longer production runs. d. Equipment is a variable input that is not affected by output or length of production.
If a country has an overvaluation problem, the best solution is to
A. sell more of its currency in the foreign exchange market. B. buy less of its currency in the foreign exchange market. C. decrease the money supply. D. increase the official rate.
Argentina's financial crisis was due to
A) poor supervision of the banking system. B) a lending boom prior to the crisis. C) fiscal imbalances. D) lack of expertise in screening and monitoring borrowers at banking institutions.
A disadvantage of corporations over a proprietorship or partnership is in the
A) legal liability. B) ability to raise funds. C) taxation system. D) future of the firm when an owner dies.