The double taxation of corporate profit in the United States refers to the fact that
A) tax rates on partnerships are very high.
B) depreciation is not a deductible expense.
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.
C
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A determinant of the price elasticity of demand is
A) whether the good is a durable or a nondurable. B) the availability of resources used in the production of the product. C) how well consumers like the good. D) the proportion of the consumer's total budget spent on the good.
When the Fed buys government bonds,
a. the money supply increases and the federal funds rate increases. b. the money supply increases and the federal funds rate decreases. c. the money supply decreases and the federal funds rate increases. d. the money supply decreases and the federal funds rate decreases.