c. A progressive taxd. A regressive taxQUESTION 3Corporate profits area. taxed to pay for Medicare.b. exempt from taxes.c. included in payroll taxes.d. taxed twice, once as profit and once as dividends.QUESTION 4A value-added tax or VAT is a tax ona. retail purchases only.b. pollution.c. all stages of production of a good.d. wholesale purchases only.QUESTION 5Table 12-17INCOME$50,000100,000200,000AMOUNT OF TAX$12,500 (25%)$25,000 (25%)$50,000 (25%)TAX A

Corporate profits:Corporate profits refer to the net income earned by a corporation or business…

Answered: QUESTION 3 Corporate profits are a.…

QUESTION 3 Corporate profits are a. taxed to pay for Medicare. b. exempt from taxes. c. included in payroll taxes. d. taxed twice, once as profit and once as dividends.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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