The corporate income tax in the United States
A) excludes dividends paid out.
B) only taxes retained earnings.
C) results in individuals' being doubly taxed on corporate earnings.
D) does not apply to profits earned on exports.
C
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The above table gives data for the nation of Mouseville. There are no imports into or exports from Mouseville. If real GDP is equal to $400 billion then,
A) unplanned inventory is -$300 billion. B) aggregate expenditure is equal to consumption expenditure. C) unplanned inventory is -$200 billion. D) aggregate expenditure is $450 billion. E) unplanned inventory is $200 billion.
Teddy buys only chocolate chip cookies and hot chocolate and spends all of his income on the two items. Suppose that Teddy's marginal utility per dollar from cookies exceeds that from hot chocolate. Teddy can make himself better off if he buys
A) more cookies and less hot chocolate. B) fewer cookies and more hot chocolate. C) an equal amount of cookies and hot chocolate. D) only hot chocolate.