Another name for a "flat-rate tax" in which the same tax rate applies to all income earners is a
A) proportional tax.
B) progressive tax.
C) regressive tax.
D) passive tax.
A
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Under the current managed float exchange rate regime, countries with balance of payments ________ frequently do not want to see their currencies ________ because it makes foreign goods more expensive for domestic consumers and can stimulate inflation
. A) surpluses; depreciate B) deficits; depreciate C) surpluses; appreciate D) deficits; appreciate
According to the quantity theory of money, the quantity of money determines the
a. interest rate. b. level of real output. c. price level. d. level of employment.
Friedrich Nietzsche's views on income distribution and fairness can best be described by the statement:
A. An efficiently operating marketplace will generate an equal distribution of income without government intervention. B. Society's goal should be to maximize the welfare of the least well-off, but some inequality is necessary to meet this goal. C. A high level of income inequality is necessary to sustain the arts, beauty, education, and civilization. D. The lesser individuals' duty should be to work for the well-being of the brightest individuals.
Explain why economists consider it to be one of the economic functions of government to provide a legal system
What will be an ideal response?