A comprehensive tax of 15% on all forms of income with no deductions or exclusions is an example of a
A. regressive tax.
B. progressive tax.
C. rate tax.
D. proportional tax.
Answer: D
You might also like to view...
In which of the following areas were substantial New Deal reforms NOT made?
a. The commercial banking system. b. The Federal Reserve System. c. Securities markets. d. Corporate accounting standards.
Apple just announced it will be coming out with the newest model iPhone in the next six months. One could reasonably expect demand for the current model of iPhone to:
A. decrease due to a change in expectations of future prices. B. increase due to a change in expectations of future prices. C. increase due to limited supply of the current model. D. decrease due to the change in price of a substitute good.
Which of the following policies would be most likely to reduce the rate of inflation?
a. sale of government bonds by the Federal Reserve b. a reduction in the discount rate c. an increase in the size of the federal budget deficit d. a reduction in the required reserves imposed on the banking system
Which of the following does not increase (i.e., shift) the supply curve of real loanable funds?
a. Open market purchases of government securities by the central bank. b. A decrease in the discount rate. c. A decrease in the reserve ratio by the central bank. d. A decrease in the preferred asset ratio for near money (N/D), due to a shift in household preferences. e. All of the above increase the supply.