If transfer payments are included when evaluating tax burdens, then the average tax rate of the poorest quintile of taxpayers would be approximately
a. negative 30 percent.
b. negative 10 percent.
c. positive 1 percent.
d. positive 8 percent.
a
You might also like to view...
The average fixed cost curve
A) is always positively sloped. B) is U-shaped. C) has an upside-down U shape. D) is always negatively sloped. E) is horizontal.
According to Alfred Chandler (1977), big business could be justified, at least in part, by
(a) a rapid rate of innovation among big firms. (b) periodic recessions in which alert big businessmen buy out bankrupt firms and expand operations. (c) a relatively low rate of bankruptcies among big firms. (d) its ability to take advantage of scale economies—big business could best take advantage of technology and economies resulting from large-scale production processes.
Which of the following statement is true?
a. The demand for Cheerios is less elastic than the demand for cereal b. The demand for gas is more elastic in the short-run than in the long-r c. The demand for puma shoes is more elastic than the demand for shoes d. Products with many complements have a more elastic demand
Suppose a bank has $50,000 in deposits and $6,000 in reserves. The required reserve ratio is 10%. Which of the following occurs if the required reserve ratio is increased to 12%?
A) The bank's total reserves will fall. B) The bank will now be fully loaned up. C) The bank will have insufficient required reserves. D) The bank's profit will fall.