A major difference between tax systems in developing and developed country is that
a. developing countries rely on direct taxes, and developed countries rely on indirect taxes
b. developing countries rely on indirect taxes and developed countries rely on direct taxes
c. developing countries rely on domestic taxes and developed countries rely on taxes on foreign trade
d. developing countries rely on ‘forced saving' and developed countries tax saving directly
e. there are no significant differences
B
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If a firm in the long run produces less than its efficient scale, it
A) should raise its markup to increase its profit. B) should lower its markup to increase its profit. C) cannot be a perfectly competitive firm. D) should not advertise to increase its profit. E) must have its markup equal to zero.
Sales contracts between developed countries are usually written (invoiced) in the national currency of the exporter
a. True b. False Indicate whether the statement is true or false