A proportional tax is defined as a tax for which the
a. average tax rate rises as income increases.
b. average tax rate falls as income increases.
c. average tax rate remains constant at all levels of income.
d. dollar tax liability of those with higher income is the same as the dollar tax liability of those with lower income.
C
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The budget line ________
A) shows the limits to a household's consumption choices B) illustrates a household's preferences C) defines a household's consumption when prices change D) shows the income a household needs to be able to buy goods and services
The National Recovery Administration (NRA) of 1933–35 attempted to restore market competition within U.S. domestic and international markets
Indicate whether the statement is true or false
The largest volume of trade in the world occurs between the United States and
a. Russia b. Japan c. Mexico d. Canada e. Britain
An increase in the money supply shifts the aggregate-supply curve to the right
a. True b. False Indicate whether the statement is true or false