A linear income tax schedule is known as
A. a flat income tax.
B. a regressive tax.
C. a Haig-Simons tax.
D. a user fee.
A. a flat income tax.
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If all the return to a resource is economic rent, we know that
A) the price of the resource is below its opportunity cost. B) the price of the resource equals its opportunity cost. C) the price of the resource is above its opportunity cost. D) the resource has no opportunity cost.
A recent medical study reports new benefits of cycling. Simultaneously, the price of the parts needed to make bikes falls. The demand curve would _________ and the supply curve would__________
a. Shift to the right, shift to the left b. shift to the left, shift to the right c. shift to the left, shift to the left d. shift to the right, shift to the right
Which of the following is true about demand?
A. Demand reflects the desire for a good but not necessarily the ability to buy it. B. In order to demand a good, a person must be willing and able to buy the good. C. When drawing a demand curve, influences such as price do not change. D. Demand reflects the ability to buy a good but not necessarily the desire to do so.
Refer to the information provided in Figure 19.1 below to answer the question(s) that follow. 
Figure 19.1 Refer to Figure 19.1. After firms can respond to the payroll tax, the per-hour wage that workers take home will ________ compared to the original equilibrium wage.
A. increase by $3 B. increase by $5 C. decrease by $5 D. decrease by $2