Suppose the market demand function for ice cream is Qd = 10 - 2P and the market supply function for ice cream is Qs = 4P - 2, both measured in millions of gallons of ice cream per year. Suppose the government imposes a $0.50 tax on each gallon of ice cream. The price paid by buyers with the tax is:

Refer to the scenario above. What will be the capital stock in the economy in the current year, if the capital stock in the last year was worth $600?

A) $1200 B) $1040 C) $900 D) $1000

Estate and gift taxes account for a very small portion of total tax revenues collected by the federal government because taxes are levied only on large estates

Indicate whether the statement is true or false