If the demand for a good increases, the
a. demand for labor producing the good will increase
b. demand for labor producing the good will decrease
c. marginal labor cost will increase
d. marginal labor cost will decrease
e. marginal physical product of labor will increase
A
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Gross Domestic Product (GDP) is defined as the market value of:
A) all goods and services sold during the year by domestic and foreign producers. B) all final consumer goods produced during the year by domestic and foreign suppliers. C) all intermediate goods produced during the year by domestic and foreign suppliers. D) all final goods and services produced within the boundaries of an economy during the year by domestic and foreign-supplied resources.
Corporate income is taxed twice-once in the form of corporate income tax and the second time when the owner must pay income tax on dividends. What are the effects of this double taxation?