Which of the Following Statements Is FALSE? the Federal Government

question 38

Multiple Choice

Which of the following statements is FALSE? The federal government could make a new law that

• A)sets age 17 as the age you can first get a driver's license in Canada
• B)puts an extra 5% tax on people who earn more than $300,000 per year
• C)increases the maximum penalty for terrorism to life in prison with no parole for 30 years
• D)taxes the import of certain chemicals entering Canada from foreign countries
• E)requires immigrants to pass a language test before they can become citizens

---

Definitions:

Marginal Cost

The increase in cost when producing one additional unit of a good or service.

Average Total Cost

The total cost of production (fixed and variable costs combined) divided by the total quantity of output produced.

Profit

The financial gain realized when the amount of revenue gained exceeds the expenses, costs, and taxes needed to sustain the activity.

Profit-Maximizing

A strategy or approach aimed at achieving the highest possible profit from business operations.