If real GDP per person in a country equals $20,000 and 40 percent of the population is employed, then average labor productivity equals:

A decrease in wages payable during the accounting period represents a decrease in cash.

a. true b. false

Ad valorem taxation

A) refers to the personal income tax. B) is used to tax goods but not services. C) is assessed by charging a tax rate as a fraction of the market price of a good. D) is a tax that is applied only to cigarettes and alcohol.