Which of the following accounts for the largest percentage of federal taxes?
a. gift taxes
b. social security tax
c. individual income taxes
d. corporate income taxes
c
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Anna's Antiques expects to get two bidders for the unique china teacup it sells. Each of the bidders can either have a high-value of $100 or a low-value of $70 with equal probability. What is the expected revenue from setting the price at $100?
a. $70 b. $75 c. $80 d. $100
The major difference between the quantity theory of money (QTM) and the equation of exchange (EOE) is:
a. QTM deals with different macroeconomic variables than EOE. b. EOE is a tautology and QTM is a theory. c. EOE is a theory, and QTM is a tautology. d. There is no difference between QTM and EOE. They are both basically looking at the same variables in the same way. One approach is monetarist and the other is Keynesian. e. EOE is a stock concept, and QTM is a flow concept.
The Board of governors of the Fed
A. are appointed by the House of Representatives. B. has 12 members. C. is headquartered in Washington, D.C. D. have a 7-year term.
Why are firm-specific assets so important in the decision to build internally, negotiate a long-term contract, or buy on the open market?
What will be an ideal response?