Exemptions and deductions are used
A) to determine what items are subject to sales taxes.
B) by taxpayers to reduce the amount of income subject to tax.
C) to add to taxes that must be paid.
D) to determine the type of tax structure.
B
Economics
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The social arrangement that gives John Grisham, the writer of best-selling novels, the ownership of his novels is
A) a market. B) property rights. C) absolute advantage. D) dynamic comparative advantage.
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If two restaurants sell many of the same food items but one offers a higher level of service, the service distinction is a form of _____.
(A) Local competition (B) Choice among substitute products (C) Nonprice competition (D) Price fixing
Economics