If Larry Robinson is taxed $100 on an income of $1,000 . Guy Carbonneau is taxed $220 on an income of $2,000 . and Chris Chelios is taxed $390 on an income of $3,000 . the tax system is
a. progressive
b. poll
c. regressive
d. excise
e. proportional
A
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Which of the following phrases indicates that income is being spoken of?
a. Tuesday, at 12:30 p.m. b. July 14, 1948 c. from January 1 to March 30 d. yesterday afternoon
Which of the following comparisons of Q2 and P2 is accurate?
a. The increase from Q1 to Q2 is twice as large as the decrease from P1 from P2.
b. The decrease from Q1 to Q2 is twice as large as the increase from P1 from P2.
c. The increase from Q1 to Q2 is half as large as the decrease from P1 from P2.
d. The decrease from Q1 to Q2 is half as large as the increase from P1 from P2.
Considering the value of a financial instrument, the circumstances under which the payment is to be made influence the value because:
A. payments that are made when we need them the most are more valuable. B. we like uncertain payoffs because this adds to the return. C. the sooner the payment is to be made the better. D. we know when certain events are going to occur and that is when we want the payment.
Refer to the information provided in Table 24.1 below to answer the question(s) that follow.Table 24.1
Refer to Table 24.1. At the equilibrium level of income, leakages equal ________ billion.
A. $0 B. $100 C. $200 D. $300