Insurance works because
A) all policyholders pay in according to risks and all then receive a pay out in return.
B) all policyholders pay in according to risks and then receive a pay out only if they incur a loss.
C) all policyholders pay in according to risks and nobody receives any pay out.
D) only high risk policyholders pay in while everyone is entitled to a pay out.
B
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An example of a regressive tax is the
A) corporate income tax. B) personal income tax. C) Social Security tax. D) state inheritance tax.
A nation can determine how close it is to the classical range by considering its:
a. Export position. b. Net export position. c. Capacity utilization index. d. Exchange rate. e. None of the above.
Real standards of living can increase
A. if there is positive growth in the manufacturing sector. B. if the country is producing the same amount they traditionally have and are enjoying more leisure time. C. only if there is positive economic growth. D. only at the cost of increased urban congestion.
Answer the question on the basis of the following four tax schedules for the given base of taxable income. Which of the above tax schedules is a regressive tax schedule throughout?
A. A
B. B
C. C
D. None of the schedules