Which of the following are considered ad valorem taxes?
A) taxes assessed by charging a rate equal to a percentage of an item's price
B) taxes assessed by charging a flat amount per unit purchased
C) taxes based on the amount of debt that the government must repay
D) taxes based on the amount of spending the government will undertake
Answer: A
Economics
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Katrina pays $40 for a meal at a fancy restaurant. The ingredients used cost $10 . The value added by the restaurant is _____
a. $30 b. $40 c. $70 d. $40 plus the wages paid to the chef and waiters e. $40 plus the profit earned by the restaurant owner
Economics
A market that involves only one seller of a good or service is known as
a. a monopoly b. perfect competition c. monopolistic competition d. an oligopoly e. perfect monopolistic competition
Economics