Which of the Following Statements Concerning Property Taxes Is False

question 78

Multiple Choice

Which of the following statements concerning property taxes is false?

• A)Property taxes are ad valorem taxes.
• B)Property taxes are the primary source of revenue for local governments.
• C)Property taxes can be levied on realty or personalty.
• D)None of the above is false.

---

Definitions:

Maximizing Profits

The process by which a company determines the price and production level that generates the most profit.

Capitalistic Firm

A business entity operating in a capitalist economy, where the means of production are privately owned and operated for profit.

Marxian Inputs

Factors of production (labor, capital, etc.) as analyzed in Marxist economic theory, focusing on their exploitation and role in generating surplus value.

Production Function

A quantitative model that demonstrates how the inputs in the production process impact the goods or services output.