Taxes are either
a. regressive, proportional, or degressive.
b. regressive, proportional, or progressive.
c. degressive, proportional, or progressive.
d. regressive, progressive, or degressive.
b
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An expansion path shows
A) the level of sales necessary for a firm if it wants to expand. B) the level of long-run average cost at different scales of operation. C) the returns to scale at each level of output. D) the least-cost combination of inputs for each level of output.
The cost-output elasticity is used to measure
A) input substitution flexibility. B) the slope of the firm's expansion path. C) the slope of long-run average cost. D) the slope of long-run marginal cost. E) economies of scale.
A lower interest rate makes more investment projects profitable, meaning that:
a. there is a direct relationship between the rate of interest and the quantity of investment spending. b. there is an inverse relationship between the rate of interest and the quantity of investment spending. c. there is no relationship between the rate of interest and the quantity of investment spending. d. the demand curve for investment spending is horizontal. e. the demand curve for investment spending is vertical.
Melinda buys new equipment for her dental office with funds she borrowed from a bank that raised funds from depositors. Which of the following is correct?
a. Melinda is an investor. b. The depositors are investors. c. Both Melinda and the depositors are investors. d. Neither Melinda nor the depositors are investors.