A proportional tax is a tax for which people with lower incomes
A) pay a lower percentage of their incomes in tax than do people with higher incomes.
B) pay the same percentage of their incomes in tax as do people with higher incomes.
C) pay the same amount of taxes as people with higher incomes pay.
D) pay a higher percentage of their incomes in tax than do people with higher incomes.
B
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The U.S. claimed a disproportionate share of world trade given its share of the world's population
Indicate whether the statement is true or false
A devaluation of a currency means that the exchange rate (price of that currency) has changed to a lower fixed rate
a. True b. False
A monopolistic competitor maximizes profit by producing 800 units of a good. If the profit-maximizing price is $45, its total revenue is _____
a. $31,000 b. $45,000 c. $36,000 d. $80,045
The entrance of large numbers of "baby boomers" into the labor force in the 1970s and 1980s:
A. caused substantial reductions in permanent unemployment. B. lessened income inequality. C. increased income inequality. D. had no impact on income inequality.