An income tax system where higher tax rates are applied to increased amounts of income is called a:
A) regressive tax system.
B) proportional tax system.
C) progressive tax system.
D) flat tax system.
C
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The ________ rate is the interest rate at which the Fed lends ________ to depository institutions
A) discount rate; reserves B) discount rate; gold C) federal funds rate; deposits D) federal funds rate; reserves
In a two regressor regression model, if you exclude one of the relevant variables then
A) it is no longer reasonable to assume that the errors are homoskedastic. B) OLS is no longer unbiased, but still consistent. C) you are no longer controlling for the influence of the other variable. D) the OLS estimator no longer exists.
Intertemporal decisions are
a. decisions in one period of time. b. decisions over time. c. decisions made without thinking about time. d. decisions involving infinity.
If the Federal Reserve raises the discount rate, banks will be inclined to borrow additional reserves and the money supply will increase.
Answer the following statement true (T) or false (F)