A flat tax which does NOT allow for deductions or credits is essentially a tax on

Fixed costs are defined as

a. the total costs of a firm's production b. the additional cost of the last unit produced c. costs that increase proportionately as the quantity produced increases d. costs that do not vary as quantity produced increases e. implicit costs only

If a wealthy nation such as the United States trades with a poorer, less developed nation like Cambodia, then it is likely true that:

A. the United States is taking advantage of Cambodia and is the only beneficiary to the trade. B. Cambodia is pressured to enter trade and not benefiting at all. C. both the United States and Cambodia can benefit from trading. D. the United States is being charitable and not benefiting from the trade at all.