Which of the following is the best description of the U.S. tax system?
A. The federal income tax is progressive, but sales, property, and other taxes tend to be regressive.
B. The U.S. tax system is consistently progressive.
C. The U.S. tax system is consistently regressive.
D. The federal income tax is regressive, but sales, property, and other taxes tend to be progressive.
Answer: A
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Newspaper vending machines illustrate that publishers believe
a. the average utility of two identical papers is zero or less b. the total utility from two identical newspapers is zero or less c. the marginal utility of a second identical newspaper is zero or less d. the marginal utility of a second identical newspaper is greater than the marginal utility of the first newspaper e. the total utility from two identical newspapers is less than the total utility from the first newspaper
If the government decreases taxes, which of the following would occur?
a. An increase in GDP, an increase in the price level, an increase in money demand, and an increase in the interest rate b. An increase in GDP, a decrease in the price level, an increase in money demand, and a decrease in the interest rate c. A decrease in GDP, a decrease in the price level, a decrease in money demand, and a decrease in the interest rate d. A decrease in GDP, a decrease in the price level, an increase in money demand, and an increase in the interest rate e. An increase in GDP, an increase in the price level, a decrease in money demand, and a decrease in the interest rate.
A large and sudden movement of funds out of a country is called
a. arbitrage. b. capital flight. c. crowding out. d. capital mobility.
Of the following sources of tax revenue for state and local governments, which was the smallest in 2014?
A) sales taxes. B) the corporate income tax. C) the individual income tax. D) the property tax.