An income tax is progressive if
A. most of the tax revenue is used to benefit lower-income households.
B. higher-income households pay a larger share of their income in taxes than lower-income households.
C. most of the tax revenue is used to benefit higher-income households.
D. lower-income households pay a larger share of their income in taxes than higher-income households.
Answer: B
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A depreciation of the U.S. dollar would shift the:
A) aggregate demand curve rightward. B) aggregate demand curve leftward. C) aggregate supply curve rightward. D) aggregate supply curve leftward.
Government outlays include all of the following EXCEPT
A) dividend payments. B) spending on the military. C) electricity for the Capital Building. D) letterhead stationery.
The major reason the market demand curve for labor slopes downward is because:
a. at lower wage rates, workers are less willing to supply labor to the market. b. at lower wage rates, workers are more willing to supply labor to the market. c. of the law of diminishing marginal product d. of the law of diminishing marginal resource cost.
The __________ of the mentally ill over the last two and a half decades, without the promised halfway houses to treat and shelter them has added to the ________________.
Fill in the blank(s) with the appropriate word(s).