Which of the following is true of indirect business taxes? a) They are included in corporate profits. b) They are not included in the GDP. c) They reduce the value of total economic output thereby reducing the value of the GDP. d) They are collected by business firms that act as agents for the government. e) They are the same as personal income taxes.
Which of the following is true of indirect business taxes? a) They are included in corporate profits. b) They are not included in the GDP. c) They reduce the value of total economic output thereby reducing the value of the GDP. d) They are collected by business firms that act as agents for the government. e) They are the same as personal income taxes.
Chapter16: The Public Sector
Section: Chapter Questions
Problem 3SQ
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Which of the following is true of indirect business taxes?
a) They are included in corporate profits.
b) They are not included in the GDP .
c) They reduce the value of total economic output thereby reducing the value of the GDP.
d) They are collected by business firms that act as agents for the government.
e) They are the same as personal income taxes.
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