An income tax for which the average tax rate is constant called a
A) regressive income tax.
B) proportional income tax.
C) marginal income tax.
D) progressive income tax.
B
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A change in consumer preferences will shift the budget line.
Answer the following statement true (T) or false (F)
Which of the following are NOT liabilities on the Fed's balance sheet?
A) discount loans B) bank deposits C) deferred availability cash items D) U.S. Treasury deposits
A general rule is that economy is experiencing a recession when:
a. real GDP declines for at least three months. b. real GDP declines for at least nine months. c. nominal GDP declines for at least nine months. d. real GDP declines for at least six months. e. nominal GDP declines for at least six months.
As the world economy becomes more integrated through globalization
A. the Fed will find it easier to conduct monetary policy. B. the Fed will rely less on open market operations and more on changing the required reserve ratio when conducting monetary policy. C. the Fed will have a more difficult time reaching its money supply growth rate targets. D. U.S. interest rates will determine world interest rates.