Financial Capital by Itself Is Not a Factor of Production;

question 153

True/False

Financial capital by itself is not a factor of production; instead it is only a paper claim on economic capital.

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Definitions:

Annual Tax Bill

The total amount of taxes levied annually by various governmental entities, including federal, state, and local taxes.

Tax Rate

The rate at which a person or business is taxed by the government.

Tax Proration

The division or allocation of taxes between parties (such as buyers and sellers) based on their period of ownership or usage.

Annual Tax Bill

The total amount of tax owed by an individual or corporation in a given fiscal year.