If the average tax rate is less than the marginal tax rate, the tax would be
A. proportional.
B. progressive.
C. uniform.
D. regressive.
Answer: B
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In 2015, the average life expectancy at birth in the United Kingdom and other high-income countries was around ________ years
A) 60 B) 70 C) 80 D) 90
The above figure depicts the Edgeworth box for two individuals, Al and Bruce. If the endowment is at point a, and Al has no ability to bargain, the final allocation will be at point
A) a. B) b. C) c. D) d.
There has been an increase in the demand for chicken. This change can be shown graphically as a:
A. shift in the demand curve to the right. B. shift in the demand curve to the left. C. movement along the demand curve to the right. D. movement along the demand curve to the left.
Forcing a natural monopolist to produce where price, or marginal benefits, equals cost results in an ________ ________ to the monopolist
a. opportunity cost b. economic loss c. economic profit d. normal profit