Senator Smith is tired of all the imports of televisions coming into this country. He proposes a bill by which all foreign-made televisions will be taxed an additional $100 before being allowed into the country. He receives a great deal of support for his bill, but one senator questions whether such an arrangement is illegal since it will discriminate against imported goods. Which of the
following is correct?
a. There is no problem with the additional tax because the U.S. is a sovereign nation.
b. There is no problem with the tax so long as it can be shown that American jobs are being lost due to the number of televisions being imported.
c. Under the principle of national treatment, the U.S., as a member of the World Trade Organization, may not discriminate against imported goods and may not apply the tax unless it is also applied equally to domestic products.
d. The tax may not be imposed under the Uniform Trade Initiative.
c
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You have been scouring The Wall Street Journal looking for stocks to add to your (large) portfolio. The table presents data that you have collected on four stocks that look promising
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The warranty of merchantability is found in Section 402A of the Restatement of the Law of Torts
Indicate whether the statement is true or false
Chase Cutter has a marginal tax rate of 33 percent, a state income tax rate of 3.5 percent, and a city income tax rate of 0.5 percent
The tax for Social Security and Medicare is 7.65 percent. What would be the effective marginal tax rate on your last dollar of earnings? A) 33 percent B) 36.5 percent C) 39.6 percent D) 44.65 percent
Answer the following statement(s) true (T) or false (F)
1. The corporate existence typically begins when the articles of incorporation are signed. 2. A formal preincorporation agreement may be desirable when it is necessary to bind participants to make future financial contributions that may be essential to the business venture. 3. Upon incorporation, the corporation becomes liable for any preincorporation agreements entered into by its promoters. 4. Stock subscriptions may be used at any time during the life of a corporation to add new shareholders to the corporation. 5. When the corporation’s articles of incorporation authorize only one class of stock, that class is typically referred to as preferred stock.