A family that earns $20,000 a year pays $200 a year in clothing taxes. A family that earns $40,000 a year pays $800 a year in clothing taxes. The clothing tax is a ________ tax.
A. progressive
B. regressive
C. proportional
D. benefits-received
Answer: A
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The total number of workers in two different countries are equal. However, each worker in Country A is three times more productive than a worker in Country B. Which of the following is true in this case?
A) The capital stock in Country B is three times more than the capital stock in Country A. B) The total efficiency units of labor in Country A is three times more than the total efficiency units of labor in Country B. C) The total efficiency units of labor in Country A is one-third of the total efficiency units of labor in Country B. D) The total efficiency units of labor in Country B is six times more than the total efficiency units of labor in Country B.
In which of the following industries are the firms price-takers?
a. monopoly b. monopolistically competitive c. monopoly and monopolistically competitive d. perfectly competitive e. perfectly competitive and monopolistically competitive
Schleppsi, a soft drink maker, is a monopsonist in the county where it manufactures its product. Suppose the total labor cost per week to the firm is $35,000 with 99 workers and the total labor cost with 100 workers is $36,000 . What will the weekly wage rate be if Schleppsi hires the 100th worker?
a. $35 b. $36 c. $100 d. $350 e. $360
Harry's Hotdogs is a small street vendor business owned by Harry Huggins. Harry is trying to get a better understanding of his costs by categorizing them as fixed or variable. Which of the following costs are most likely to be considered fixed costs?
a. the cost of mustard b. the cost of hotdog buns c. wages paid to workers who sell hot dogs d. the cost of bookkeeping services