Alicia has a tax credit of $100 and a marginal tax rate of 28%. Alicia's income tax will be reduced by how much as a result of the credit?
A)
$28
B)
$128
C)
$100
D)
None of the above; her taxes will increase by $100.
C
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A married couple has been granted the right to occupy and use a 10 acre tract of land forever. Which of the following does the couple hold?
A) Fee simple estate B) Estate for years C) Life estate D) Leasehold estate
Vernon argues that early in the life cycle of a typical new product, while demand is starting to grow rapidly in the United States, demand in other advanced countries:
A. remains limited to high-income groups. B. necessitates production of that product in those countries. C. necessitates outsourcing of production to low-cost locations. D. raises the cost of production in the United States. E. causes a shift in the position of the United States from that of an exporter to an importer.