Suppose a negative income tax program is established at 25 percent, and a poverty threshold minimum of $15,000 is guaranteed for a family of four. If the family earns $10,000 through working, its total income would equal

A corporation's income is taxed

a. immediately after it is deposited in the bank. b. only before it is distributed to its owners. c. only after it is distributed to owners. d. both before and after it is distributed to owners.

Normally, to the extent that a governmental control mechanism succeeds in affecting price, it can be expected to lead to a corresponding

a. reduction in the volume of sales only if the price is forced down. b. reduction in the volume of sales if the price is forced down and an increase in the volume of sales if the price is forced up. c. decrease in the volume of sales whether the price is forced up or down. d. increase in the volume of sales whether the price is forced up or down.