Which of the following would indicate that an income tax is progressive?
a. high-income people pay $3,000 . low-income people pay $1,000
b. low-income people pay $3,000 . high-income people pay $1,000
c. high-income and low-income people all pay $1000 each
d. high-income people pay 20 percent of their income in taxes; low-income people pay 10 percent
e. both high-income and low-income people pay 10 percent of their income in taxes
D
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The major factor affecting a nation's balance of payments is
A) an increase in its rate of unemployment. B) its rate of inflation relative to the rate of inflation of its trading partners. C) a change in the productivity of its labor. D) its stock market movements.
Suppose a radar-activated braking system that can help prevent crashes is an option on a new car. It costs $600 and reduces the chance of dying in an auto accident by 1/700. The implicit value placed on life by a person who has the system installed is therefore:
A. at least $420,000. B. less than $420,000. C. at least $432,000. D. exactly $600.
Unions will be more successful where
A. it is easy for competitors to enter the industry. B. globalization is less extensive. C. it is easy for the company to hire replacement workers. D. the state government has passed a "right-to-work" law.
Inputs are traded in the factor market.
Answer the following statement true (T) or false (F)