Which of the following would be classified as a fixed cost for the proprietor who owns and operates the local Texaco station?
A) the federal excise tax paid on each gallon of Texaco gasoline sold
B) the state income tax on the profit earned
C) the rent paid on the 10 year lease for the property on which the station is located
D) the Social Security tax the owner pays the federal government on the owner's income
C
Economics
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Traveler's checks are included in
A) M1 only. B) M2 only. C) both M1 and M2. D) neither M1 nor M2.
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Over time, the percentage of total employment in services has ________ and in agriculture, employment has ________
A) increased; increased B) decreased; increased C) stayed about the same; decreased D) stayed about the same; increased E) increased; decreased
Economics