Under a progressive income tax system, the marginal income tax rate paid by taxpayers
A) declines as their incomes increase.
B) rises as their incomes increase.
C) is unchanged as their incomes increase.
D) is unrelated to their incomes.
B
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A lump sum tax is one for which the individual's liability does not depend on behavior.
A. True B. False C. Uncertain
A renewable resource such as fish which is also an open-access good is:
a. rival but nonexcludable. b. nonrival and nonexcludable. c. nonrival but excludable. d. rival and excludable.
Suppose the global market for personal computers is monopolistically competitive. If a country engages in a two-way trade in personal computers, such trade is usually based on
A. product differentiation. B. constant returns to scale. C. external scale economies. D. comparative advantage.
When a firm's long-run average cost curve is horizontal for a range of output, then that range of production displays
A) increasing returns to scale. B) constant returns to scale. C) decreasing returns to scale. D) constant average fixed costs.