The Social Security and Medicare taxes in the United States, which are payroll taxes, fit the description of which of the following tax structures?
A. It depends on the income of the individual being taxed.
B. Regressive
C. Progressive
D. Proportional
Answer: B
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Which of the following will happen if consumption in an economy falls?
A) Firms' revenue fall. B) Labor supply falls. C) Mortgage defaults fall. D) Asset prices rise.
The "equality of opportunity" idea of fairness claims
A) a society should make the poorest as well off as possible. B) the results and the rules should both be fair. C) it's not fair if the rules aren't fair. D) private property can be transferred under government order. E) only a first-come, first-served system of allocating resources is fair.
Happy Bagels sells its bagels for $6 each and the firm has a constant marginal cost of $4 per bagel, which is equal to its (constant) average total cost. If Happy Bagels does not sell a bagel the day it is produced, the bagel is sold as day-old for $2. If Happy Bagels is currently holding 50 bagels in inventory and the probability that Happy Bagels will sell 50 bagels or more is 0.60, which of
the following statements is true? A) To obtain the profit-maximizing, optimal level of inventory, Happy Bagels needs to increase its inventory. B) To obtain the profit-maximizing, optimal level of inventory, Happy Bagels needs to decrease its inventory by exactly one -half. C) To obtain the profit-maximizing, optimal level of inventory, Happy Bagels needs to decrease its inventory. D) Happy Bagels is holding the profit-maximizing, optimal level of inventory.
Assume the current interest rate is 25%. The present value of $2,000 to be received in one year would be
A. $1,000. B. $1,200. C. $1,600. D. $1,800.