A tax is regressive if it
A. is levied on consumers.
B. takes a smaller percentage of income as income increases.
C. takes a higher percentage of income as income increases.
D. takes the same percentage of income regardless of income level.
Answer: B
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The IMF's approach to structural adjustment usually
a. placed priority on growth-related investments b. eased conditions by providing subsidies for goods consumed by the poor c. aimed to switch production from goods consumed domestically to goods intended for export d. focused on governments switching expenditure from defense spending to job creation e. all of the above
If the firm hires 5 workers, the total amount of fixed costs equals
a. $250 b. $50 c. $200 d. $1200
One of the most serious weaknesses in the Medicare system is that
a. patients are not able to choose their own physicians. b. the definition of an episode of illness is too restrictive. c. it provides poor insurance coverage for unusually long hospital stays. d. patients must pay a deductible every time they enter the hospital. e. Part B is voluntary.
Under school voucher systems, financial support goes to
A. to the school. B. to the state. C. to the city. D. to the family.