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
, mortgage interest 8,400, miscellaneous 3,000  











3. Compare tax philosophies





4. Compare different types of tax rates.






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