Which statement best describes the overall tax and transfer systems of the United States?
A. Our tax system makes the after-tax distribution of income much more equal than the before-tax distribution
B. Our tax system does not by itself reallocate income; transfer payments help redistribute income from rich to poor
C. Although some Federal taxes are progressive, this effect is more than offset by the regressivity of state and local taxes which make the overall system extremely regressive
D. Recent changes in corporate income taxes and payroll taxes have made our overall tax system more progressive
B. Our tax system does not by itself reallocate income; transfer payments help redistribute income from rich to poor
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The seller of a call option has the
A) right to buy shares at a specified price. B) obligation to buy shares at a specified price if the option is exercised. C) right to sell shares at a specified price. D) obligation to sell shares at a specified price if the option is exercised.
Which of the following is not an excise tax?
a. A tax on cigarettes. b. A tax on beer. c. A tax on corporations. d. A tax on airline tickets.
When people invest, they face a trade-off between which of the following?
a. a higher risk and higher return or a lower risk and lower return b. a higher risk and lower return or a lower risk and high return c. a higher risk and no change in the rate of return d. the price and the interest rate
In 2016, the largest exporter in the world was
A) Japan. B) Germany. C) China. D) the United States.