One criticism of the corporate income tax is that
A) it is too regressive.
B) it is too flat.
C) it is so complex to administer that corporate income taxes are rarely collected by the Internal Revenue Service.
D) a portion of the corporations' tax burden is passed on to consumers via higher prices for goods and services and to workers via lower wages.
Answer: D
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Shoe leather costs include the ________ due to the more frequent trips to the bank, the new cash management systems and the expanded employment in banks that inflation causes.
A. bracket creep and redistribution that occur B. time and effort that are used up C. substitution and price adjustment biases that arise D. deflating and indexing that are necessary
Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation. B. low economic growth and high inflation. C. high economic growth and low inflation. D. low economic growth and low inflation.
With a fixed amount of capital, 300 workers produce 9,000 cars. The average labor productivity is
A. 0.03. B. 3. C. 27. D. 30.
U.S. GDP in 2012 was about:
A. $8.1 trillion B. $15.7 trillion C. $890 billion D. $1200 billion