An example of ad valorem taxation is
A. a tax on luxury items.
B. the Social Security tax.
C. the corporate income tax.
D. the personal income tax.
Answer: A
Economics
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Suppose per capita real GDP grows by 3.5% per year. Based on the Rule of 70, approximately how many years will it take for the level of per capita real GDP to double (i.e., increase by 100%)?
A) 10 years B) 35 years C) 20 years D) 3.5 years
Economics
The break-even price for a perfectly competitive firm is the price that is equal to
A) AVC. B) ATC. C) MC. D) MR
Economics