A proportional tax is one in which the fraction of income paid in taxes rises as a person’s income increases.
Answer the following statement true (T) or false (F)
False
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
If participants in securities markets believe that an announced decrease in the money supply will reduce the rate of inflation, the likely result will be
A) higher real interest rates. B) higher nominal interest rates. C) lower real interest rates. D) lower nominal interest rates.
If demand is inelastic, marginal revenue will be
a. positive. b. zero. c. negative. d. constant.
One way to raise the money price of throwing a bean-ball (a pitch aimed at the batter's head) is to:
A. allow batters hit by balls to walk. B. eliminate designated hitters. C. institute a fine for bean-balls. D. add designated hitters to the National League.