Alex, Bill, and Cid live in Souland. Their annual incomes and the amounts they pay in income tax are shown in the table below. Income Tax Alex 30,000 6,000 Bill 20,000 4,000 Cid 40,000 8,000 The income tax in Souland is
A) proportional.
B) disproportional.
C) regressive.
D) progressive.
A
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Refer to Scenario 10.5. How many garden hoses should be produced in California in order to maximize profits?
A) 1 B) 2 C) 3 D) 4 E) 5
A change in quantity demanded of a good always results from a change in
a. income b. tastes c. the price of the good d. both income and tastes e. the price of other goods
An unintended consequence of rent control has been
a. apartment owners failing to properly maintain their buildings b. a surplus of housing causing rents to fall below maintenance cost c. that rents have been consistently held above the equilibrium price d. a shortage of tenants e. a decrease in the homeless population
Recall the Application about the decrease in taxes on cigarettes in several Canadian provinces in 1994 to answer the following question(s). According to this Application, after the government deceased cigarette taxes in several Canadian provinces, demand for cigarettes ________ in these provinces, shifting the demand curve to the ________.
A. increased; right B. increased; left C. decreased; right D. decreased; left