The tax that brings in the most revenue in the United States is the
A) capital gains tax.
B) corporate income tax.
C) Social Security tax.
D) personal income tax.
Answer: D
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The firm shown in the figure above is
A) a natural monopoly because its LRAC curve slopes downward where it intersects the demand curve. B) not a natural monopoly because its LRAC curve slopes downward where it intersects the demand curve. C) not a natural monopoly because its MC curve is horizontal. D) not a natural monopoly because its MC curve is below its LRAC curve.
If a theatre company expects $250,000 in ticket revenue from five performances and $288,000 in ticket revenue if it adds a sixth performance, the
A) company will be making a loss on the sixth performance because its ticket sales will be less than the average revenue received from the previous five. B) marginal revenue of the sixth performance is $38,000. C) marginal revenue of the sixth performance is $288,000. D) cost of staging the sixth performance is probably higher than the cost of staging the previous five.