A tax that takes the same percentage of tax from all taxpayers is called a:
A. proportional tax.
B. progressive tax.
C. regressive tax.
D. lump-sum tax.
A. proportional tax.
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The conclusion that the economy has price flexibility, wage flexibility, and perfectly competitive markets justifies
A) rational policy making. B) passive policy making. C) active policy making. D) none of the above.
Which of the following statements is true?
A. Government cannot remove individuals from a prisoner's dilemma setting and make them better off. B. As long as government charges each individual a tax that is more than the gain received by being removed from a prisoner's dilemma setting, then government makes that individual better off. C. Government can remove individuals from a prisoner's dilemma setting by changing the payoff matrix. D. a and c E. all of the above
If a perfectly competitive firm raises its price, its sales decrease to zero
a. True b. False
If a firm has been proven liable for a false ad, it has to:
A. terminate the false ad. B. compensate more than the damage it has caused. C. recall any product with the false claim on it. D. All of the statements associated with this question are correct.