During the last 20 years, what has happened to the marginal tax rates imposed on high-income taxpayers and the personal income tax revenues collected from them?
a. Both the rates imposed and the revenues collected from the rich have increased.
b. Both the rates imposed and the revenues collected from the rich have declined.
c. The tax rates imposed on the rich have declined, but the revenues collected from them have increased.
d. The tax rates imposed on the rich have increased, but the revenues collected from them have declined.
C
You might also like to view...
Comparative advantage is the ability, compared with another producer
A) to produce more of a product with the same resources. B) to use fewer inputs to produce the same amount of a product. C) to produce a higher-quality product with fewer resources. D) to produce an additional unit of a product at lower opportunity cost.
Many communities have granted monopoly rights to cable companies. This is an example of a monopoly created through: a. government licensing
b. ownership of the cable resources. c. patent protection. d. smart business practices by shrewd entrepreneurs.
Refer to the given table. The equilibrium price in this market is:Price Per UnitColumn A Units Per YearColumn B Units Per Year$2010040$309550$408060$506570$605080
A. between $20 and $30. B. nonexistent. C. between $30 and $40. D. between $40 and $50.
After the American Civil War, many prominent Southerners lamented the fact that the South “overproduced” cotton and “underproduced” food. In fact, the South did import a very large percentage of its food. Nevertheless, rather than reduce cotton production and grow more food, Southern farmers did the opposite because
A. they were irrational and distraught over the loss of slavery. B. the South had a comparative advantage in cotton production. C. the North had a comparative advantage in cotton production. D. corn was absolutely cheaper to produce in the North.