If, as your taxable income decreases, you pay a smaller percentage of your taxable income in taxes, then the tax is
A) proportional. B) unfair. C) progressive. D) regressive.
C
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Organizing a successful firm in a market economy has become ________ over the last century
A) politically impossible B) less difficult C) legally impossible D) more difficult
In the classical model, a tax on capital will
a. increase the demand for labor, the real wage, and output. b. increase the supply of labor, reduce real wages, and increase output. c. decrease the demand for labor, the real wage, and output. d. have no effect on the labor market. e. increase both labor demand and supply, which will increase output.
In economics we say the amount of land is
A. fixed. B. variable. C. both fixed and variable. D. neither fixed nor variable.
If supply decreases and demand increases,
A. the effect on the market clearing price is indeterminate, and the equilibrium quantity definitely falls. B. the market clearing price definitely rises, and the equilibrium quantity falls. C. the market clearing price definitely rises, and the equilibrium quantity is indeterminate. D. the market clearing price definitely falls, and the effect on the equilibrium quantity is indeterminate.