The federal income tax is progressive because poor people pay little or no taxes
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
A natural oligopoly can form
A) if there are economies of scale. B) only if firms sell a differentiated good. C) only if firms sell a homogeneous good. D) if there is only one firm in the industry.
By 1860, the U.S
(a) had achieved an equal distribution of income and wealth. (b) had experienced growth in both agriculture and manufacturing, but growth in manufacturing had begun to outpace agriculture. (c) land had become the primary income-earning asset. (d) experienced a slowdown in urbanization and rapid expansion in agriculture at the expense of manufacturing.
A shift of the U.S. demand curve for Mexican pesos to the left and a decrease in the pesos price per dollar would likely result from:
a. an increase in the U.S. inflation rate relative to the rate in Mexico. b. a change in U.S. consumers' tastes away from Mexican products and toward products made in South Korea, India, and Taiwan. c. U.S. buyers perceiving that domestically-produced products are of a lower quality than products made in Mexico. d. all of these.
The prospect of a recession in the United States would probably cause the dollar to
a. depreciate because interest rates would be expected to rise. b. depreciate because imports would be expected to rise. c. appreciate because imports would be expected to fall. d. appreciate because interest rates would be expected to decrease.