A congress member concerned about ensuring vertical equity in taxation would be most likely to argue for obtaining government revenue through a
a. progressive tax on personal income.
b. regressive tax on corporate income.
c. sales tax.
d. head tax.
a
You might also like to view...
Which of the following is true of the typical relationship between marginal product (MP) and average product (AP)?
A) If MP is greater than AP, then AP is falling. B) The AP curve intersects the MP curve at minimum MP. C) The MP curve intersects the AP curve at maximum AP. D) If MP is less than AP, then AP is increasing.
A(n) ____ may offer products that are either differentiated or identical
a. monopolistically competitive firm b. monopolist c. oligopolistic firm d. perfectly competitive firm e. monopsonist
The structural deficit is determined by established expenditure-transfer policies and tax rates and is independent of the current level of GDP
a. True b. False Indicate whether the statement is true or false
Exhibit 5-6 Demand curve for concert tickets
?
In Exhibit 5-6, if promoters lower their ticket price from $30 to $20, then:
A. ticket sales will increase but total revenue will decrease because demand is inelastic between $30 and $20. B. both ticket sales and total revenue will increase because demand is inelastic between $30 and $20. C. ticket sales will decrease but total revenue will increase because demand is elastic between $30 and $20. D. both ticket sales and total revenue will increase because demand is elastic between $30 and $20.