Individuals are allowed to deduct a percentage of their expenditures for health care from their taxable income if these expenditures are above a certain amount. This reduces the amount that must be paid in taxes. Allowing for these deductions would improve ________ of the federal income tax.
A. both vertical and horizontal equity
B. the progressivity
C. the horizontal equity
D. the vertical equity
Answer: A
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The data show that the American national income grew fast enough—even when immigration rates are taken into account—to produce rising income per capita between 1860 and 1910
Indicate whether the statement is true or false
The inability of Congress to pass a stimulus package after September 11, 2001, could be used as an argument for
a. activist fiscal policy. b. activist monetary policy. c. expansionary fiscal policy. d. contractionary monetary policy.
Jonathan likes to consume pizzas and burgers. If both the goods have diminishing marginal utility, then Jonathan's indifference curve is likely to be _____
a. a straight line b. downward sloping c. L-shaped d. U-shaped
The supply of money is determined by the Federal Reserve and is dependent on the demand for money.
Answer the following statement true (T) or false (F)