An example of ad valorem taxation is
A) a tax on luxury items.
B) the corporate income tax.
C) the personal income tax.
D) the Social Security tax.
Answer: A
Economics
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Economics
In the above figure, the short-run aggregate supply curve is SAS1. Suppose that the price level in the economy increases. As a result there is
A) an upward movement along SAS1. B) a downward movement along SAS1. C) a shift to SAS0. D) a shift to SAS2.
Economics