A tax that varies directly with the income of the person—the higher the income, the higher the tax rate—is known as a(n)
a. regressive tax
b. progressive tax
c. proportional tax
d. flat tax
e. excise tax
B
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A single-price monopolist will maximize profit by producing so that marginal revenue
A) exceeds marginal cost. B) is less than marginal cost. C) equals marginal cost. D) equals price.
The voting paradox suggests that the "voting market," as represented by elections
A) leads to a superior outcome in representing consumer preferences compared to the private market for goods and services. B) is no different from the private market for goods and services in terms of representing consumer preferences. C) may not lead to an efficient outcome but certainly leads to a more equitable outcome in terms of distributing goods and services. D) may often lead to an inefficient outcome in representing consumer preferences compared to the private market for goods and services.
A firm's trademark is protected from misuse if it is registered with the
A) U.S.D.A. B) U.S. Patent and Trademark Office. C) U.S. Supreme Court. D) F.C.C.
The poverty line:
a. separates those on welfare from those not on welfare. b. equals three times an economy food budget. c. equals the median income level. d. all of these.