In 2009, the top 1 percent of income earners made about
a. 1 percent of all income and paid about 1 percent of all taxes.
b. 13 percent of all income and paid about 22 percent of all taxes.
c. 22 percent of all income and paid about 13 percent of all taxes.
d. 50 percent of all income and paid about 50 percent of all taxes.
b
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In a perfectly competitive industry
A. economic profits may exist in the short run but not in the long run. B. economic profits may persist in the long run if consumer demand is strong and stable. C. no economic profits can exist in either the short run or the long run. D. economic profits may exist in the long run but not in the short run.
The table above presents the production possibilities frontier for a nation. Using the information in the table, moving from possibility C to B means that
A) 4 units of capital goods are given up to get 55 units of consumption goods. B) 2 units of capital goods are given up to get 55 additional units of consumption goods. C) 4 units of capital goods are given up to get 10 additional units of consumption goods. D) 4 units of capital goods are given up to get 45 units of consumption goods. E) 2 units of capital goods are given up to get 10 additional units of consumption goods.
Since the government controls the maximum price pipelines can charge for transportation of natural gas, the pipelines going to the same destination usually compete by discounting rates below the legal maximum
Indicate whether the statement is true or false
Explain the purpose of payroll taxes. Is it a proportional form of tax?
What will be an ideal response?