Chapter 7 Market System ParticipantsHomework Questions
1. What advantages and disadvantages does the corporate form of ownership have over the partnership form of ownership?
2. Calculate the average tax rate of a single person with gross income of
$60,000 per year. Assume the following deductions:
personal exemption $2,800, property taxes $3,000
3. Compare tax philosophies
4. Compare different types of tax rates.
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