If Janice earns $50,000 a year and pays $500 in taxes, and Cam earns $100,000 a year and pays $20,000 in taxes, the tax system must be:

A. regressive.
B. progressive.
C. proportional.
D. lump-sum.


B. progressive.

Economics

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One requirement for an effective nominal anchor is ________

A) price stability B) credibility C) fixed exchange rates D) rational expectations

Economics

All of the following have played a role in reducing union strength since 1970 except

a. rising service sector employment. b. foreign industrial competition. c. the Supreme Court's decision to apply antitrust laws to union organization efforts. d. "right-to-work" laws.

Economics

Neo-Keynesians believe that the market power exercised by unions, monopolies, and particular resource suppliers created the Phillips curve

Indicate whether the statement is true or false

Economics

If the government grants tax credits to first-time homebuyers, the supply of houses would increase and the price of housing would fall

Indicate whether the statement is true or false

Economics