A tax that exacts a lower proportion of income from higher-income people than it does from lower-income households is a regressive tax.
Answer the following statement true (T) or false (F)
True
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Indifference curves are drawn on a diagram with the
A) price of a good on the vertical axis and its quantity on the horizontal axis. B) price of one good on the vertical axis and the price of another good on the horizontal axis. C) quantity of a good on the vertical axis and its price on the horizontal axis. D) quantity of one good on the vertical axis and the quantity of another good on the horizontal axis.
Which group is hurt by inflation being less than expected?
A) holders of TIPS B) lenders of fixed-rate mortgages C) borrowers with fixed-rate mortgages D) all of the above
To say that something is scarce means that:
a. it is no longer available in stores. b. it must be conserved at any cost. c. even the government cannot supply it. d. sufficient amounts of it available only at a zero price. e. not enough is available to satisfy people's wants at a zero price.
The owner of Chez Zee needs to hire a new head chef and has posted an advertisement on various online job boards. The restaurant owner wants to reduce the amount of imperfect information he receives from job applicants. Which of the following would address this concern?
a. Requiring a resume and recommendations b. Requiring a detailed job and personal history c. Stipulating a trial period as a hiring condition d. Offering the job with a renewable contract