In a ________ tax system, the marginal tax rate declines with income
A) progressive
B) regressive
C) proportional
D) marginal
B
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A fall in the price of flour, used in making cakes, is likely to:
A) increase the supply of cakes. B) decrease the quantity supplied of cakes. C) increase the quantity supplied of cakes. D) decrease the supply of cakes.
All of the following are examples of demand shocks, except one. Which is the exception?
a. A spontaneous decrease in money demand b. A tax increase c. A contraction of the money supply by the Fed d. An increase in the price level e. A reduction in government spending
The first antitrust law in the United States was the
A. Sherman Act. B. Clayton Act. C. Robinson-Patman Act. D. Glass-Steagall Act.
________ are likely a fixed cost of a firm.
A. Expenses for holiday office parties B. Utility costs C. The costs of raw materials used in production D. Mortgage payments for a new warehouse