Additional loopholes in the personal income tax law tend to
A. Increase horizontal equity.
B. Increase vertical equity.
C. Increase the tax base.
D. Make the system less progressive.
Answer: D
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Refer to Figure 6-1. A perfectly inelastic demand curve is shown in
A) Panel A. B) Panel B. C) Panel C. D) Panel D.
Having observed that both the real wage and the quantity of employment are increasing, we may conclude that ________ is not ________
A) demand; decreasing B) supply; decreasing C) demand; increasing D) supply; increasing
Capital rationing
A) exists when a company sets an arbitrary limit on the amount of investment it is willing to undertake, so that not all projects with an NPV higher than the cost of capital will be accepted. B) generally does not permit a company to achieve maximum value. C) seems to occur quite frequently among corporations. D) All of the above
Consider the above figure. At an income of $60 we would expect saving to be equal to
A) $60. B) $40. C) $10. D) $0.