Suppose a Firm Buys $1000 Worth of Inputs from Other

question 23

Multiple Choice

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

• A)$500.
• B)$1000.
• C)$1500.
• D)$2500.
• E)$4500.

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Definitions:

Biological Perspective

The biological perspective looks at psychology in terms of biological processes, structures, and substances and how they influence behavior, thoughts, and emotions.

Drugs

Substances used to treat, prevent, or diagnose illness, or used recreationally to alter mood or consciousness.

Psychodynamic Model

A psychological theory that emphasizes unconscious psychological processes (e.g., desires, thoughts, feelings) and contends that childhood experiences are crucial in shaping adult personality.

Displacement

The event that occurs when short-term memory is filled to capacity and each new, incoming item pushes out an existing item, which is then forgotten.