Advocates of a progressive income tax use arguments EXCEPT for which of the following?
A) A progressive tax system taxes according to ability to pay.
B) A progressive tax system taxes according to benefits received.
C) A progressive tax system helps redistribute income away from the rich and towards the poor.
D) A progressive tax system maximizes government revenues.
B
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Olson (1971) claims that unions strive for job monopoly to achieve their goals by coercion
Indicate whether the statement is true or false
The most heavily traded American stocks are traded on the
A. New York Stock Exchange. B. American Stock Exchange. C. regional stock markets. D. “third market.”
The Phillips curve illustrates the
A. Inverse relationship between the price level and the level of output. B. Direct relationship between the unemployment rate and the inflation rate. C. Inverse relationship between the unemployment rate and the inflation rate. D. Direct relationship between the price level and the level of output.
A government-sponsored good is one that
A) everybody is willing to support with funding contributions. B) is inherently valuable. C) the political process has determined socially desirable. D) everybody will receive concrete benefits from.