You are trying to design a tax system that will simultaneously achieve both of the following goals: 1) a person with no income would pay no taxes, and 2) a high-income person would pay a higher fraction of income in taxes than a low-income person. Which of the following statements is correct?
a. A lump-sum tax would achieve the second goal but not the first.
b. A regressive tax would achieve the second goal but not the first.
c. A progressive tax could achieve both goals.
d. A proportional tax could achieve the second goal but not the first.
c
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The application of current US antitrust law
A. extends its long reach to block mergers that reduce competition. B. reaches beyond the subjective judgments of antitrust regulators. C. includes a wide arrange of anticompetitive practices. D. includes a narrow range of anticompetitive practices.
During the Revolutionary War, the Pennsylvania legislature attempted to aid the Continental Army by setting wage floors for soldiers in the army.
Answer the following statement true (T) or false (F)
Under a fixed exchange rate system, if the government decides to devalue its currency, net exports will ________ and the IS curve will shift to the ________
A) increase; left B) increase; right C) decrease; left D) decrease; right
If the price is $60 per unit, what is the break even amount of units for technology A?
a. 50 b. 100 c. 150 d. None-They would have to shut down