Consider a system in which a person earning $10,000 pays $1,000 in taxes, a person earning $25,000 pays $1,000 in taxes and a person earning $60,000 pays $1,000 in taxes. What type of tax is this?
a. progressive
b. proportional
c. regressive
d. transgressive
e. unfair
C
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The intersection of GG and LL determines
A) the optimal level of integration desired by Norway. B) the maximum integration level desired by Norway. C) the minimum level of integration that will cause Norway to join the fixed exchange rate regime. D) the maximum level of integration that will cause Norway to join the fixed exchange rate regime. E) the maximum level of integration that can aid Norway if it joins the fixed exchange rate regime.
All of the following costs will vary depending on the geographic location of a firm's plant except which one?
A) zoning issues B) wages C) U.S. income taxes D) real estate values
In the above figure, along which range would total revenue rise by raising prices?
A) between point a and point b B) between point c and point d C) between point d and point e D) above point a
The optimal use of resources is achieved if
a. price = average total cost (ATC) b. price = marginal cost c. price = marginal revenue d. price = total cost e. price = total revenue