[NeedAttention]
Exhibit 35-1
?
A. remain in box 1.
B. move to box 2, because this box is better for Jaden.
C. move to box 3, because this box is better for Karen.
D. move to box 4.
E. There is not enough information to answer the question.
Answer: D
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In the short run, a tax on economic profits can be shifted.
A. True B. False C. Uncertain
The economic incidence of a unit tax is
A. generally borne by the buyers. B. generally borne by sellers. C. generally borne by the government. D. independent of the statutory incidence for the tax.
Economics is the study of how people:
a. vote for political leaders who decide what is to be produced. b. make choices to produce and consume goods and services. c. establish social institutions that maximize well-being. d. develop value systems that affect their consumption choices.
Which of the following is a disadvantage that proprietorships face and corporations do not?
a. company size too big to manage effectively b. access to familiar and even family labor c. owners' control over day-to-day operations d. double taxation e. unlimited liability