Which of the following is an advantage of a value

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Chemistry for Engineering Students
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Chapter 13 / Exercise 13.29
Chemistry for Engineering Students
Brown/Holme
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93. Which of the following is an advantage of a value added tax (VAT) compared to a final tax on retail sales?A)The VAT may lead to higher revenue collected because even if no sales takes place, the government collects tax revenue at earlier stages of production.B)The VAT is a more equitable tax system because the tax burden is shared by every participant in the production process and by the final consumer.C)The VAT encourages productive behavior because each producer bears a smaller portion of the total tax imposed on a product.D)The VAT reduces a nation’s trade deficit.Ans: A
94. Gross domestic income (GDI) is defined as:
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Chemistry for Engineering Students
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Chapter 13 / Exercise 13.29
Chemistry for Engineering Students
Brown/Holme
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95. The equality between GDP and GDI in an economy implies that the income generated by final goods and services is equal to:
96. The value of income generated by the production of a given value of final goods and services is called:
97. In GDP accounting, the value of the total final output in a given period equals the value of the:A)total income generated by the production of final goods and services in that period.B)net revenue earned from the sales of intermediate goods and services during that period.C)total profit earned by firms involved in the production of the output during that period.D)total inputs used in the production of the final output in that period. Ans: A
98. The components of gross domestic income include:

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