Which of the following expressions equals GDP?
A) compensation of employees + consumption + depreciation + net investment
B) compensation of employees + net interest + rental income + depreciation + corporate profits + proprietors' income + indirect taxes - subsidies
C) compensation of employees + net exports + depreciation + corporate profits
D) compensation of employees + gross investment + rental income + depreciation + corporate profits + indirect taxes - subsidies
B
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Unreimbursed medical expenses in excess of 8.5% of AGI are tax deductible.
A. True B. False C. Uncertain
Unregulated natural monopolies:
A. never capture lowest costs per unit possible. B. can capture profits by restricting output. C. create no problems for policy-makers. D. are always protected by government policy.
If the tax rate increases with an increase in income, the income tax structure is said to be _____
a. proportional b. regressive c. progressive d. lump-sum e. negatively skewed
Changes in the value of the euro affect the economies of
A. All European countries, but there would be no significant impact on countries outside Europe. B. Only those countries using the euro as currency. C. No countries as long as exchange rates are flexible. D. Potentially the entire world.