The ________ is an example of a regressive tax.
A. energy tax
B. individual income tax
C. tariff
D. sales tax
Answer: D
You might also like to view...
The ________ effect can be divided into the ________ effect and the ________ effect
A) marginal; substitution; price B) income; substitution; price C) substitution; price; income D) price; substitution; income
Which of the following is an example of a positive economic statement?
a. The economy's output increased by 3 percent last year. b. A central bank should not print more money because inflation will result. c. Congress should stabilize the social security system by raising taxes now. d. The economy should grow at 5 percent each year. e. The government farm products surplus should be distributed to the needy.
A commercial bank holds $500,000 in demand deposit liabilities and $120,000 in reserves. If the required reserve ratio is 20 percent, which of the following is the maximum amount by which this single commercial bank and the maximum amount by which the banking system can increase loans?
a) amount created by single bank = $5,000 and amount created by banking system = $25,000 b) acsb=$20,000 and acbs=$80,000 c) acsb=$20,000 and acbs=$100,000 d) acsb=$0,000 and acbs=$150,000 e) acsb=$120,000 and acbs=$500,000
If the MPC = 1, the spending multiplier is:
A. infinite. B. zero. C. 1. D. 10.