One difference between sales and excise taxes is that:
A. sales taxes are only applied at the state level, while excise taxes are only applied at the
federal level.
B. excise taxes apply to a wide range of products, while sales taxes apply only to a select list
of products.
C. sales taxes are calculated as a percentage of the price paid, while excise taxes are levied
on a per-unit basis.
D. excise taxes are calculated as a percentage of the price paid, while sales taxes are levied
on a per-unit basis.
Answer: C
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The demand for a product at a given time is defined as the
a. desire for it. b. sum spent on it. c. measure of total utility for it. d. amount that would be bought at various prices.
If two events are perfectly positively correlated, then
A) diversification is not necessary since there is no risk. B) diversification eliminates all risk. C) diversification does not reduce risk at all. D) diversification only cuts the risk in half.
To date, the longest prison sentence for violating the Sherman Act has been ________ years.
A) ten B) eight C) two D) five
In countries like _____________ the command economy predominates.
A. China and Vietnam B. Cuba and North Korea C. South Africa and Kenya D. Germany and France