Property taxes are not very popular. People might dislike other taxes just as much, but feel powerless to change them. If the assessed value of the property does not rise or, in fact, declines, then this should be followed by decreases in tax rates. This, however, is not welcomed by property owners, either. Why?
What will be an ideal response?
Although tax rates may be lower, this decrease corresponds to a decreasing value of the
property, which will result in capital losses. The ideal situation would be for the assessed value
of the property to increase with rates staying the same or decreasing.
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Refer to Figure 4.7. You should definitely ask for points if you believe that ________ of your classmates have asked for points
A) five or fewer B) less than five C) six or more D) more than six
What does it mean if an industry has external economies?
What will be an ideal response?
In game theory, a Nash equilibrium is defined as:
A) the dominant strategy of each player. B) a set of strategies for which all players are choosing their best strategy, given the actions of the other players. C) the set of strategies that result in the maximum payoff to each player. D) the set of strategies chosen when the players in a game can cooperate with each other.
If a firm shuts down in the short run, its losses are equal to
A. TC ? TR. B. TFC. C. TVC. D. MC.