The tax rate structure is the
A. measure of who pays the tax.
B. study of how taxes change over time.
C. percentage of a tax base that must be paid in taxes.
D. measure or value upon which a tax is levied.
Answer: C
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A Nash equilibrium is an outcome where
A) both players are playing their best strategy, given the strategy chosen by the opponent. B) both players are playing their best strategy, regardless of the strategy chosen by the opponent. C) only one player can play his or her best strategy due to the strategy chosen by the opponent. D) neither player has a best strategy to play.
Inflation may impose little, if any, cost on the economy, if ________
A) laws against excessive price increases are enforced effectively B) the government subsidizes menu costs C) price increases are fully anticipated D) the Fisher effect holds true E) the rate of price increase is so slow that people do not feel compelled to alter their behavior
If future total factor productivity increases
A) labor demand increases. B) government expenses increase. C) consumption demand decreases. D) investment demand increases.
Which of the following is NOT counted as an economic resource?
a. Mental abilities of labor. b. Money supply. c. Entrepreneurship. d. Physical labor. e. All of the above are included.