Magic Cookies Inc made a profit of $800,000 last year and paid $100,000 as taxes. This is an example of a(n) _____
a. capital gains tax
b. corporate income tax
c. excise tax
d. personal property tax
b
You might also like to view...
The Fed uses operating targets as well as intermediate targets because
A) the Federal Reserve Act of 1913 requires it to do so. B) the Fed controls intermediate targets only indirectly. C) the public is much more unfamiliar with the variables used as operating targets, so for policy to be effective intermediate targets must also be announced. D) if one set of targets proves ineffective in attaining policy goals, the other set is available.
One reason for international specialization in production is
a. differing national tastes b. diseconomies of scale in production c. a high world price for a good d. resources are plentiful in all nations e. people have limited wants for domestically produced goods and services
Economic rent is earnings in excess of what?
a. opportunity cost b. total costs c. taxes d. hidden costs
On average, U.S. real GDP has grown roughly _____ percent per year.
A.) One. B.) Three. C.) Seven. D.) Five.