A tax is regressive if the average tax rate
A) increases as income increases.
B) increases as income decreases.
C) is negative.
D) is less than one.
B
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The results of a survey conducted by Dan Ariely and Michael Norton found that Americans
A) have a preference for much greater equality in wealth distribution than currently exists. B) have a preference for much less equality in wealth distribution than currently exists. C) have a preference for roughly the amount equality in wealth distribution that currently exists. D) show absolutely no preference for the amount of equality in wealth distribution in the nation.
Refer to Table 19-19. Given the information above, calculate the GDP deflator in 2016
A) 114 B) 105 C) 95 D) 87
The Samuelson-Solow version of the Phillips curve states that
A) there is an inverse relationship between the wage inflation rateand unemployment B) there is a direct relationship between the wage inflation rateand unemployment. C) there is an inverse relationship between price inflation andunemployment. D) there is a direct relationship between price inflation and unemployment. E) a and b
If the price is $5 and the quantity demanded is 100 units, then at a price of $10, the quantity demanded will be
A) less than or equal to 100 units. B) greater than or equal to 100 units. C) less than or equal to 1000 units. D) equal to 100 units.