Are property taxes progressive or regressive?
What will be an ideal response?
The nature of property taxes is controversial. Some economists think the property tax is progressive because it is a tax on wealth. Persons with high incomes tend to hold more property than persons with low income; therefore, the property tax may be viewed as progressive. An alternate view is that the property tax is an excise tax on rents. Because the poor pay a larger fraction of income in rent than do the wealthy, the property tax may be viewed as regressive.
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Government polices aimed at changing the underlying structure or institutions of the nation's economy are called:
A. trade policy. B. structural policy. C. fiscal policy. D. monetary policy.
Countries that use the Anglo Saxon model tend to use civil law
a. True b. False
The text takes the perspective that international politics today is defined by both
a. globalization and antiglobalization. b. continuity and change. c. poverty and prosperity. d. power and peace.
The demand curve faced by a monopolistically competitive firm is:
A. highly elastic. B. vertical. C. highly inelastic. D. horizontal.