Vertical equity refers to the notion that individuals at all levels should be taxed equally
a. True
b. False
Indicate whether the statement is true or false
False
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If a nation's population grows at 2 percent and its real GDP grows at 4 percent, what is the growth rate of real GDP per person?
What will be an ideal response?
Suppose there is a large number of jobs available for computer workers in California, but many such workers live in Texas, New York, and Illinois. This kind of mismatch is an example of
a. regional unemployment b. structural unemployment c. seasonal unemployment d. frictional unemployment e. cyclical unemployment
With a lump-sum tax,the average tax rate for high income taxpayers will be
a. the same as the average tax rate for low income taxpayers. b. lower than the average tax rate for low income taxpayers. c. higher than the average tax rate for high income taxpayers. d. Any of the above could be true under a regressive tax system.
An increase in price will result in a decrease in the quantity supplied.
a. true b. false