The benefits-received principle of taxation is most evident in:
A. inheritance taxes.
B. excise taxes on gasoline.
C. the personal income tax.
D. the corporate income tax.
Answer: B
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Explain how it might be possible for the total variable cost function to be linear? Explain
What will be an ideal response?
Which of the following does not contribute to differences in interest rates?
a. Different loans are for different periods of time. b. Large loans generate more administrative costs per dollar than smaller loans. c. Different loans are subject to different tax rules. d. Loans to established businesses are evaluated differently from loans to new businesses. e. The longer the period of repayment, the greater the risk of higher-than-expected inflation.
Which of the following most directly reflects the law of diminishing marginal utility?
a. After watching two football games, Terry decides to watch a third game. b. A sports fan enjoys watching Monday night football rather than going to the theater. c. After listening to three compact discs, Kim decides to go bowling rather than listen to a fourth disc. d. A musician receives the biggest ovation of the evening after playing the final number of a recital.
Which of the following will cause an upward movement along the aggregate supply curve?
a. An increase in the price level of all goods and services b. A decrease in the price level of all goods and services c. A technological improvement in the country d. An increase in the physical capital of a country