Recall the Application That Questions If the United States Can

question 47

Multiple Choice

Recall the Application that questions if the United States can or should adopt a value-added tax (VAT) to answer the following question(s) . The value-added tax is essentially a sales tax that is levied on each stage of production. Firms pay the value added tax on their sales and then receive a credit for value-added taxes paid by their suppliers. Unlike a sales tax, the value-added tax is embedded in the price of goods.
-According to this Application, ________ developed countries and ________ developing countries have a value-added tax.

• A) virtually all; many
• B) very few; most
• C) most; very few
• D) very few; very few

---

Definitions:

Normal Distribution

A symmetric probability distribution centered on the mean, demonstrating that occurrences near the mean happen more often than those far from it.

Maximum Oxygen Uptake

The maximum rate at which an individual can consume oxygen during intense or maximal exercise, indicating cardiorespiratory fitness.

Alternative Hypothesis

A statement in hypothesis testing that proposes a difference or effect, opposing the null hypothesis which suggests no effect or difference.

Normal Distribution

A symmetric bell-shaped frequency distribution graph that represents how traits are spread across a population, where most occurrences are close to the mean.