Which of the schedules represent(s) a progressive tax?
Answer the question on the basis of the following five schedules, all of which represent income tax schedules for an economy. All figures are in billions of dollars.
A. V only.
B. III and V.
C. II and III.
D. III only.
B. III and V.
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Suppose the current price of a pound of steak is $6 per pound and the equilibrium price is $9 per pound. What takes place?
A) There is a shortage, so the price rises and quantity demanded increases. B) There is a shortage, so the price falls and quantity demanded increases. C) There is a surplus, so the price falls and quantity demanded increases. D) There is a shortage, so the price falls and quantity demanded decreases. E) There is a shortage, so the price rises and quantity demanded decreases.
Either technological progress or cost increasing new government regulations will increase supply
a. True b. False Indicate whether the statement is true or false
Inflation has never been a major problem in the U.S
a. True b. False
Why do we seldom see people asking to have their own wages reduced?
a. People are usually narrow-minded. b. People usually overestimate themselves. c. People usually look out for their own self-interest. d. People are usually selfish.