Using the income approach, an indirect business tax is a(n):

a. sales tax.
b. excise tax.
c. license fee.
d. all of these.

d

Economics

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Which of the following statements is TRUE?

A) APC + APS = 1 B) APC + APS < 1 C) APC + MPS = 1 D) APC + APS + MPC + MPS = 1

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Explain the idea of capital investment by using the story of Robinson Crusoe. What is sacrificed, and what is gained?

Economics