A progressive tax means
a. people who make more money pay less total taxes
b. the marginal tax rate increases as income increases
c. the percentage of income paid out decreases as income increases
d. people who are poor receive the proceeds of the tax
e. the same thing as a flat-rate tax
B
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Factors of production include
A) the economic system. B) land, labor, capital and entrepreneurship. C) labor and capital (not land, which is fixed). D) only capital, land, and labor.
Suppose the per-unit production cost of a book is $4.00 and the retail price is $32
If the book publisher sells books to a bookstore at a 40 percent discount, what is the amount of the publisher's markup per book? Assume that bookstores sell books at the retail price. A) $12.80 B) $15.20 C) $19.20 D) $21.60
Mitt Romney argued in a debate with President Obama that the economy had grown more slowly in each year of the President's term than in the year prior to Obama’s presidency. This claim is most related to the field of:
A. microeconomics. B. public policy. C. macroeconomics. D. financial economics.
According to economists, which of the following acts was partially responsible for the Great Depression of the 1930s?
a. The Robinson-Patman Act b. The National Recovery Act c. The Smoot-Hawley Tariff Act d. The Sarbanes-Oxley Act e. The Sherman Antitrust Act