Owners of partnerships
A. report their firms' income directly on their individual income tax returns.
B. must pay the corporate profits tax.
C. must pay the corporate profits tax as well as report their firms' income directly on their individual income tax returns.
D. are not subject to paying any taxes on their firms' income.
Answer: A
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According to the Application, the differential survival of the wealthy created an environment
A) which allowed for economic growth. B) where lower-class people could no longer afford to live in the country. C) that directly led to the demise of the British monarchy. D) which caused increased class warfare.
Because money growth is a major component determining the inflation rate, in order to forecast inflation we should forecast actions by the
A) Congress. B) President. C) Fed. D) Office of the Treasury. E) U.S. Mint.
If the Federal Reserve wants to reduce inflation from 4 percent to 3 percent permanently, how can that goal be achieved, and what impact will that have on employment in the short run and the long run? Support your answer with a graph of the Phillips
curve in the short run and the long run.
If a government started with a budget deficit and moved to a surplus, domestic investment
a. and the real exchange rate would rise. b. and the real exchange rate would fall. c. would rise and the real exchange rate would fall. d. would fall and the real exchange rate would rise.