Ad valorem taxation means
A. that the tax rate is a percentage of the price paid for a product.
B. a progressive property tax imposed in some states.
C. a negative income tax.
D. that only the value added by a service provider is taxed.
Answer: A
Economics
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In a country without foreign trade and no income taxes, if the government increases autonomous taxes by 1000 and the MPS is 0.1, then the initial or first round change in expenditures by all tax payers will be
A) a reduction equal to 1000. B) an increase equal to 1000. C) a reduction equal to 900. D) an increase equal to 900.
Economics
The movement of households from rural to urban settings reduced the degree of specialization in household production
a. True b. False
Economics