Suppose you are making $50,000 per year and paying $5,000 per year in income taxes. You get a $10,000 per year raise and your income taxes are now $6,500 per year. Based on this information, the income tax system is
A) proportional.
B) progressive.
C) regressive.
D) bracketed.
B
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When the price level ________, the demand curve for money shifts to the ________ and the interest rate ________, everything else held constant
A) falls; right; rises B) rises; right; falls C) falls; left; rises D) rises; right; rises
Discuss why the government would implement a program to lower the price of a good and the welfare effects of such a program. Give an example of good for which such a policy has been implemented and explain the purpose of the policy.
What will be an ideal response?
The supply curve for a perfectly competitive firm is its marginal cost curve for all levels of output
a. True b. False Indicate whether the statement is true or false
If a nation's government determines that consumption of cigarettes should be discouraged, then this means that the government has judged cigarettes to be a(n)
A. government-sponsored good. B. exclusive good. C. public good. D. government-inhibited good.