If a person is taxed $1,000 on an income of $10,000 . taxed $2,000 on an income of $20,000 . and taxed $3,000 on an income of $30,000 . this person is paying a(n):
a. progressive tax.
b. regressive tax.
c. proportional tax.
d. poll tax.
e. excise tax.
c
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According to the Application, the cultural habits of the rich filtered down through English society. These habits included all of the following virtues EXCEPT
A) impulsive behavior. B) thrift. C) prudence. D) hard work.
Generally, most of the world’s industrial countries believe that central banks should be independent of their governments.
Answer the following statement true (T) or false (F)
Decrease in personal income taxes will ________ the expenditure curve:
A) decrease. B) increase. C) not change. D) none of the above.
A bubble happens when:
A. asset prices rise for a long time, even during a recession. B. asset prices rise higher and faster than can be explained by the fundamentals. C. asset prices rise faster than can be tracked with traditional statistical tools. D. asset prices rise higher than experts have predicted they would.