Most economists agree that some of the burden of the corporate income tax
A) is shared by the federal government.
B) is reduced because the tax is used to attain a social objective.
C) is reduced because the tax is progressive.
D) is passed on to consumers in the form of higher prices.
D
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The marginal propensity to save (MPS) is computed as the change in:
a. savings divided by the change in saving. b. savings divided by the change in income. c. saving divided by the change in GDP. d. None of these.
The shortened work week coupled with rising hourly wages in the U.S. economy shows that
A. the income effect has been dominant. B. the substitution effect does not exist at all. C. the U.S. worker is no longer productive. D. workers have become increasingly lazy.
If inflation is fully anticipated and if there are no restrictions on contracts, then inflation will not redistribute purchasing power
a. True b. False
____ mean that the costs involved cannot be recouped for a considerable period of time.
A. Sunk costs B. Opportunity costs C. Overheads D. Restructuring costs