One World View article is titled "Top Tax Rates." The lowest marginal tax rates in the world in 2015 were in
A. Monaco.
B. France.
C. Denmark.
D. Canada.
Answer: A
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Suppose that the interest rate paid to savers increases. As a result, Tom wishes to save less. This suggests that, for Tom,
A) the substitution effect is greater than the income effect. B) the income effect is greater than the substitution effect. C) utility maximization is not occurring. D) future consumption is a luxury.
The assumption that individuals do NOT intentionally make decisions that would leave them worse off is referred to as
A) the premium assumption. B) the law of comparative advantage. C) the rationality assumption. D) the law of demand.
Unemployment insurance is:
A. offered by companies as a way to affect the level of frictional unemployment. B. offered by the government as a way to affect the level of seasonal unemployment. C. money that is paid by the government to people who are unemployed. D. All of these are true.
According to supply-side fiscal policy, reducing tax rates on wages and profits will:
a. create demand-pull inflation. b. lower the price level but may trigger a recession. c. reduce both unemployment and inflation. d. result in stagflation.