What conclusion did the 1962 University of Chicago study on the burden of the corporate tax rate make?
What will be an ideal response?
The study concluded that owners of corporations, proprietorships, and partnerships all bear the burden of the corporate tax in rough proportion to profits, even though it is directly levied only on corporations.
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Which of the following is not a consequence of minimum wage laws?
A) Employers will be reluctant to offer low-skilled workers jobs with training. B) Some workers benefit when the minimum wage is increased. C) Producers have an incentive to offer workers non-wage benefits such as health care benefits and convenient working hours rather than a higher wage. D) Low-skilled workers are hurt because minimum wage reduces the number of jobs providing low-skilled workers with training.
If the exchange rate between the Argentine peso and the U.S. dollar is 4 pesos for $1, how much is each peso worth in U.S. dollars?
a) $0.25 b) $0.50 c) $0.75 d) $1.25