A regressive tax
a. taxes individuals with higher incomes at a higher rate than individuals with lower incomes.
b. takes a similar percentage of income at all income levels.
c. takes a higher percentage of the income of those with lower incomes than for those with higher incomes.
d. taxes savings at a higher rate than consumption.
C
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If expectations about future income change, there is
A) a decrease saving if people expect income to decrease in the future. B) a decrease in saving if people expect income to increase in the future. C) an increase in saving if people expect income to increase in the future. D) no change in saving until income actually changes. E) a change in the quantity of loanable funds supplied and a movement along the supply of loanable funds curve.
How do the owners of a partnership relate to the business?
A) The owners and the business are separate legal entities. B) The owners and the business are not separate legal entities. C) The assets of the owners are considered separate from the asset of the business. D) None of these describe the legal relationship of the owners to the business.
A tax imposed by a state or local government on retail sales of most products is
A) an excise tax. B) a sales tax. C) a consumption tax. D) a social service tax.
What are the alternative views to the human capital theory with respect to the role of education?
What will be an ideal response?