There are no indisputable principles of tax equity
a. True b. False
a
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A firm bought a pizza oven for $13,500 and if it shut down now, could sell the oven for $9,500. Which of the following statements is TRUE?
A) The relevant cost of the oven when considering shutting down is $13,500. B) The relevant cost of the oven when considering shutting down is $9,500. C) The relevant cost of the oven when considering shutting down is $4,000. D) The cost of the oven does not matter when deciding whether or not to shut down.
If a perfectly competitive industry is taken over by a monopolist,
a. output will always rise b. output will always fall c. market price will probably not change d. marginal cost will approach average variable cost in the long run e. market price could fall if there are large gains from technological changes under monopoly
Which statement is false?
A. In general, Japanese firms are more concerned with product quality than American firms are. B. There is no one explanation for the rising Japanese trade surplus. C. There is no single remedy for our huge trade imbalance. D. None of these statements are false.
Assume that the demand schedule for product C is downsloping. If the price of C falls from $2.00 to $1.75:
a. The demand for C will rise b. A smaller quantity of C will be demanded c. The demand for C will fall d. A larger quantity of C will be demanded