Most sales taxes are __________; most excise taxes are __________.
A. progressive; progressive
B. regressive; regressive
C. progressive; regressive
D. regressive; progressive
B. regressive; regressive
You might also like to view...
What is the marginal productivity theory of income distribution?
What will be an ideal response?
Prior to the collapse of communism, communist countries worked on the premise that economic well-being could be best attained by
a. a market economy. b. a strong reliance on prices and individuals' self-interests. c. a system of large privately-owned firms. d. the actions of government central planners.
The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
If a seller enjoys a producer surplus of $30 when he sells a good for $79, his reservation value for the good is ________
A) $30 B) $49 C) $79 D) $109