Define what is meant by the tax base and give an example
What will be an ideal response?
The tax base is the measure or value upon which a tax is levied. Examples might include income, goods and services, wealth, property, etc.
Economics
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A person is calculating his permanent income by adaptive expectations. Last year's permanent income was 38,000, this year's actual income is 44,000, and j = 0.25. This year his permanent income is
A) 39,500. B) 42,500. C) 59,000. D) 20,500
Economics
In the short run, if the average total cost of producing 4,000 shoes is $10 and the average total cost of producing 7,000 shoes is $9, then the most efficient point of production occurs at a quantity at least as great as 7,000
Indicate whether the statement is true or false
Economics