Jamal earns $160,000 per year and Josephina earns $80,000 per year. If Jamal pays $16,000 in income taxes and Josephina pays $5,000 in income taxes, the income tax system would be
A) regressive.
B) progressive.
C) proportional.
D) marginal.
B
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Today, the share of union membership among public sector workers in the United States is
A) more than twice the share of union membership among private sector workers. B) zero. C) less than half of the share of union membership among private sector workers. D) the same as the share of union membership among private sector workers.
Other things constant, a decrease in the price of fertilizer will: a. increase the supply of wheat
b. decrease the supply of wheat. c. increase the demand for wheat. d. decrease the demand for wheat.
Adverse selection refers to when:
A. one party to a transaction has more information than the other and this results in a bargaining dispute. B. one party selects the wrong strategy and they are displeased with their selection. C. one party to a transaction has more information than the other and transactions occur less frequently due to the information asymmetry. D. neither party is willing to be party to a transaction because they don't have enough information.
Empirical research seems to verify that:
A. the rate of inflation seems to vary directly with the amount of central bank independence. B. countries that have high rates of inflation seem to have central banks with low levels of independence. C. there is no relationship between the independence of central banks and rates of inflation. D. countries that have less independent central banks experience lower rates of inflation.