If the marginal tax rate is less than the average tax rate, the tax system is
A. regressive.
B. progressive.
C. proportional.
D. flat.
Answer: A
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Black markets only exist in developing nations
Indicate whether the statement is true or false
All of the following are differences in capital flows today from the past, EXCEPT
A) the increasing variety of financial instruments. B) the larger number of companies listed on world stock exchanges. C) the need to protect from sudden changes in currency values. D) the problem of volatility in financial capital flows. E) the reduction in transaction costs for foreign investment.
Author A accepts a $5,000 advance from a publisher and a 10% royalty after 5,000 books are sold. Author B foregoes the publisher's advance and negotiates for a 15% royalty on all books sold
Author C decides to self-publish his book and keep 100% of all sales revenue. In what order of risk aversion (from most to least) would you rank these authors? A) Author A, Author B, Author C B) Author A, Author C, Author B C) Author B, Author A, Author C D) Author C, Author B, Author A
When a government splits a natural monopoly vertically, it is breaking the company up:
A. along its stages of production. B. in order to maximize its profits. C. into smaller companies providing the same goods. D. in order to capture all efficiencies possible.