A tax where the percentage of income paid in taxes is the same regardless of the size of the income is a:
A. proportional tax.
B. regressive tax.
C. progressive tax.
D. sales tax.
Answer: A
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The spending multiplier is:
a. 1 / (1 ? MPC). b. 1 ? MPC. c. MPC. d. MPC / (1 ? MPC).
Which of the following is not a type of labor law in the United States?
A. Maximum wage laws B. Overtime pay laws C. Worker safety and health laws D. Child labor laws
When an industry is monopolized, the move from a competitive environment to a monopoly leads to a decrease in consumer surplus and an increase in industry profits in a one-to-one ratio.
Answer the following statement true (T) or false (F)
Globalization of resource markets has resulted in the business practice of offshoring, which involves:
A. Only an outflow of jobs away from the U.S. B. No possible expansion of jobs in the U.S. C. Huge losses to consumers in the U.S. D. Both an outflow as well as an inflow of jobs in the U.S.