A tax is regressive if it collects a:
a. larger amount as income rises.
b. constant amount as income rises.
c. smaller fraction of income as income falls.
d. smaller fraction of income as income rises.
d
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The natural unemployment rate occurs
A) at the full employment level of unemployment. B) when the structural unemployment rate equals zero. C) when the frictional unemployment rate equals zero. D) when the sum of frictional and structural unemployment equals zero. E) when the unemployment rate equals zero.
Broadly defined, technological advance:
A. can occur in the short run, long run, or very long run. B. comprises new and improved goods and services and/or new and improved ways of producing or distributing them. C. includes invention but not innovation or diffusion. D. includes product innovation but not process innovation.
The zero-profit point shows the price below which a perfectly competitive firm lacks sufficient revenue to cover its variable costs
a. True b. False Indicate whether the statement is true or false
According to surveys by the Medical Group Management Association, the average family practice physician earned approximately _______ in 2014.
a. $220,000 b. $145,000 c. $190,000 d. $130,000 e. $160,000