The double taxation of corporate profit in the United States refers to the fact that
A. depreciation is not a deductible expense.
B. tax rates on partnerships are very high.
C. corporate profit is first taxed and then any dividends paid are subject to personal income tax.
D. proprietorships are not subject to any tax on earnings.
Answer: C
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The average propensity to consume (APC) equals
A) the change in consumption expenditures divided by the change in real disposable income. B) real disposable income divided by consumption expenditures. C) the change in real disposable income divided by the change in consumption expenditures. D) consumption expenditures divided by real disposable income.
The table above gives the domestic demand and supply schedules for a good. Suppose the world price of the good is $40 and the government imposes a $20 per unit tariff. How much will the government collect as tariff revenue?
A) $160 B) $360 C) $320 D) $240 E) $80
Which of the following statements is true of the U.S.?
A) There is more value in trade between states in the U.S. than its international trade. B) The U.S. has always been a net exporter of goods and services. C) The U.S. exports more crude oil than it imports. D) The level of imports of the U.S. has dramatically decreased since 1960.
When profits and costs occur in the future, the ________ the profit occurs and the ________ the cost occurs, the ________ likely the net present value will be ________.
A) later; sooner; more; positive B) sooner; later; more; positive C) sooner; later; less; positive D) sooner; later; more; negative