A tax where the percentage of income paid in taxes is the same regardless of the size of the income is a:

A. proportional tax.
B. regressive tax.
C. progressive tax.
D. sales tax.


Answer: A

Economics

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According to the marginal approach to profit maximization, firms should increase output as long as total revenue is rising

a. True b. False

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The term discouraged worker refers to an individual who: a. prefers full-time employment but works only part time

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Economics

If a public service commission requires a natural monopoly to set its price equal to the long-run marginal cost, this will result in

A) excessive economic profits to the monopoly. B) normal economic profits to the monopoly. C) losses to the monopoly. D) either economic profits or losses, depending on the efficiency of the monopoly.

Economics