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
You might also like to view...
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.
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.
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
. 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.