The Tax on the Value of a Product at Each

question 67

Multiple Choice

The tax on the value of a product at each stage of production and distribution is called the __________.

• A)excise tax
• B)production tax
• C)total tax
• D)value-added tax

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Definitions:

Loan

A sum of money that is borrowed, often from a financial institution, which is expected to be paid back with interest.

Interest

The payment required for obtaining the service of borrowing funds, typically denoted as a yearly percentage rate.

Interest Rate

The proportion of interest charged to a borrower by a lender for the use of borrowed money.

Investment

The operation of earmarking financial resources with the hope of obtaining a return or profit.