When the tax structure of a nation is progressive, as incomes increase, the tax rate:
a. declines.
b. remains the same.
c. increases.
d. is proportional.
c
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Why should people without children pay some tax to support local schools?
What will be an ideal response?
The price elasticity of demand is equal to
A) the percentage change in quantity demanded divided by the percentage change in price. B) the change in quantity demanded divided by the change in price. C) the percentage change in price divided by the percentage change in quantity demanded. D) the value of the slope of the demand curve.
If a consumer receives 20 units of utility from consuming two candy bars, and 25 units of utility from consuming three candy bars, the marginal utility of the third candy bar is
A) 25 utility units. B) 20 utility units. C) 5 utility units. D) unknown as more information is needed to determine the answer.
If the stock market behaves according to the efficient market hypothesis, then
a. investment in stocks cannot be profitable. b. future changes in stock movements are completely predictable. c. current stock prices reflect all currently available information. d. both b and c. e. all of the above.