Which of the following statements is true?
A) The main items that comprise indirect business taxes include excise taxes, income taxes, and property taxes.
B) Capital consumption allowance is also known as depreciation.
C) A sales tax is an example of an indirect business tax.
D) b and c
E) a, b, and c
D
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Suppose that consumers expect that the price of a product will increase in the future. The result is that
A) the current supply of the product decreases. B) the current demand for the product decreases. C) the current demand for the product increases. D) the current supply of the product increases.
Government's unfunded liabilities:
A. result from the political bias toward immediate benefits and deferred costs. B. result in more efficient policies in an attempt to satisfy these liabilities. C. are caused primarily by market failures. D. only occur in democratically elected governments.