Double taxation means that both
a. the profits of corporations and the dividends shareholders receive are taxed, which is not currently the case in the United States.
b. the profits of corporations and the dividends shareholders receive are taxed, which is currently the case in the U.S.
c. wage income and employee benefits are taxed, which is not currently the case in the United States.
d. wage income and employee benefits are taxed, which is currently the case in the United States.
b
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If the demand curve for bottled water shifts rightward and the supply curve of bottled water shifts leftward, the equilibrium
A) price of bottled water definitely increases. B) price of bottled water definitely decreases. C) quantity of bottled water definitely increases. D) quantity of bottled water definitely decreases.
The surplus that is lost and not converted to tax revenue when a tax is imposed is:
A. deadweight loss. B. value that disappears. C. not transferred to anyone else. D. All of these statements are true.
A natural monopoly occurs when a single firm can produce the entire output of the market at a lower average cost than could many firms.
Answer the following statement true (T) or false (F)
Along a supply curve,
a. supply changes as price changes. b. quantity supplied changes as price changes. c. supply changes as technology changes. d. quantity supplied changes as technology changes.