In a progressive tax structure,
A. the marginal tax rate exceeds the average tax rate.
B. vertical equity exists.
C. the average tax rate rises as income falls.
D. all the choices.
A. the marginal tax rate exceeds the average tax rate.
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According to the short-run Phillips curve, which of the following would result in low rates of unemployment?
A) a higher inflation rate B) weak increases in aggregate supply C) a lower inflation rate D) weak increases in aggregate demand
The decrease in the value of the dollar relative to the Japanese yen
A. increased the yen price paid and decreased the dollar price received from U.S. goods exported to Japan. B. decreased both the yen price paid and the dollar price received from U.S. goods exported to Japan. C. increased both the yen price paid and the dollar price received from U.S. goods exported to Japan. D. decreased the yen price paid and increased the dollar price received from U.S. goods exported to Japan.
If a consumer's total expenditure on a good does not vary with price, then that consumer's demand curve is unit elastic over that range of prices
a. True b. False Indicate whether the statement is true or false
What happens to aggregate demand as the price level increases?
a. It increases. b. It decreases. c. It remains constant. d. It moves away from equilibrium.