Answer the next question on the basis of the following four tax schedules for the given base of taxable income. IncomeTax ATax BTax CTax D$10,000$650$1,000$500$1,00020,0008502,0001,0003,00030,0009504,0001,5006,00040,0001,0506,0002,0009,500Which of the above tax schedules is a progressive tax schedule throughout?

A. Tax A
B. Tax B
C. Tax C
D. Tax D


Answer: D

Economics

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Suppose real GDP is currently $12.5 trillion and potential real GDP is $13 trillion. If the president and Congress increased government purchases by $500 billion, what would be the result on the economy?

What will be an ideal response?

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The U.S. government currently imposes a $0.54 per gallon tariff on all ethanol imported into the country. If this tariff were removed, then:

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Which of the following is not true for a monopoly?

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Refer to Table 17.2. The marginal product of the fifth unit of labor is:

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Economics