If the marginal tax rate is less than the average tax rate, the tax system is

A) progressive.
B) proportional.
C) regressive.
D) liberal.


C

Economics

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The figure above shows Clara's demand for CDs. At a price of $5 for a CD, the value of Clara's total consumer surplus for all the CDs she buys is

A) $5. B) $10. C) $25. D) $125.

Economics

According to the quantity theory of money, an excess quantity of money supplied will lead to

A) a reduction in spending and higher interest rates. B) a reduced level of real Gross Domestic Product (GDP). C) a higher level of employment. D) a higher price level.

Economics

Given that the firm wants to sell both the versions, how high can the no-name brand be priced?

a. $30 b. $40 c. $60 d. $70

Economics

. During most of the 1990s and 2000s, the trend in interest rates was:

A. sharply downward. B. mildly downward. C. mildly upward. D. just about constant.

Economics