Author Question: Suppose a firm buys $1000 worth of inputs from other firms, hires $1000 worth of labour services, ... (Read 176 times)

xman15. · **on:** Oct 12, 2022

Question 1

The most important source of revenue for the Canadian federal government is ________ taxes; the most important source of revenue for Canadian municipal governments is ________ taxes.
◦ property; payroll
◦ sales; property
◦ corporate; sales
◦ income; excise
◦ income; property

Question 2

Suppose a firm buys $1000 worth of inputs from other firms, hires $1000 worth of labour services, and has sales revenue of $2500. The firm's resulting profit is $500. According to a value-added tax such as the GST, this firm would pay taxes on
◦ $2500.
◦ $4500.
◦ $500.
◦ $1000.
◦ $1500.

mamboz · **Reply #1 on:** Oct 12, 2022

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