When a tax is regressive, as a person's income rises, the tax rate:
a. stays the same.
b. decreases.
c. increases.
d. increase and then decreases.
e. decreases and then increases.
b
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One important role for government as referee is in defining and enforcing property rights.
Answer the following statement true (T) or false (F)
The two standard ways of defining poverty thresholds are
a. percentage of median income and basic needs b. number of poor and quintiles c. unearned income of the poor and and welfare d. ratio of the poor's wealth and ratio of the poor's income e. below minimum wage income and above minimum wage income
The government of country A, which has adopted American GDP accounting conventions, has calculated that the seasonally-adjusted market value of all final goods and services produced within country A in quarter 1 was $5 billion. The government will report that GDP in quarter 1 was
a. $1.25 billion at an annual rate. b. $4 billion at an annual rate. c. $5 billion at an annual rate. d. $20 billion at an annual rate.
The screening process a bank follows for a loan applicant:
A. is based on just public information. B. uses information that anyone can obtain, the bank can usually obtain it cheaper. C. includes information that can be available to other firms, as well as proprietary information that only the bank would have. D. uses only confidential information.