The Value Added Tax (VAT) is
A. not often used in the United States.
B. a percentage tax.
C. added at each stage to production.
D. all of these answer options are correct.
D. all of these answer options are correct.
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Initially, the economy is at point B on Figure 10-2 above. According to the Solow growth model, a dramatic decrease in the rate of saving after complete adjustment shifts the economy from ________
A) B to H, increasing output per capita B) B to C, increasing output and capital per capita C) B to D, decreasing the output and capital per capita in the long run D) B to E, decreasing output per capita but holding per capita capital constant
The absolute price elasticity of demand for good X is 1.2 when price is measured in dollars. If price were measured in cents, the price elasticity elasticity of demand would equal
A) 1200. B) 12. C) 1.2. D) 0.012.
The reservation wage likely increases when
A. the price of consumption increases. B. nonlabor income increases. C. the wage increases. D. the price level (of consumption and wages) increases. E. one is a discouraged worker.
The rate of interest affects agriculture because
A) A high interest rate suggests a stronger dollar which depresses farm export demand. B) A low interest rate lowers farm expenses. C) A high interest rate reduced the capitalized value of farmland. D) All of the above.