A tax whose burden is the same proportion of income for all households is
A. a proportional tax.
B. a regressive tax.
C. a progressive tax.
D. an equal tax.
Answer: A
You might also like to view...
If a 1 percent increase in price causes a 2 percent increase in quantity supplied, then supply is
A) elastic. B) inelastic. C) unit elastic. D) infinite.
Which of the following explains the rapid growth of the M2 money supply growth since the 1960s?
a. inflation b. the government printed more M2 money than M1 c. the introduction of money market mutual funds d. the introduction of money market mutual deposits e. sluggish stock market performance in the 1970s
Suppose nominal GDP was $360 billion in 1990 and $450 billion in 2000. The appropriate price index (1985 = 100) was 120 in 1990 and 125 in 2000. Between 1990 and 2000 real GDP:
a) increased by $60 billion. b) decreased by $32 billion. c) increased by $100 billion. d) increased by $117 billion.
Since 1950, the energy efficiency of the U.S. economy in terms of producing goods and services has:
A. not changed. B. more than doubled. C. risen about 50 percent. D. risen more than threefold.