If a tax is progressive, then
A. the average tax rate decreases as taxable income increases.
B. the average tax rate increases as taxable income decreases.
C. the average tax rate remains constant as taxable income decreases.
D. the average tax rate decreases as taxable income decreases.
Answer: D
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From the 1ate 1780s to immediately before the Civil War, the U.S. slave population:
a. increased from roughly 300,000 to over 6 million. b. increased from roughly 600,000 to almost 4 million. c. stayed roughly the same. d. increased by nearly 10 million.
Which of the following is true about entrepreneurs?
a. They have the talent required to dream up a new product or find a better way to produce an existing one. b. They are rewarded by profits. c. They sometimes suffer losses. d. They benefit from what's left over after paying other resource suppliers. e. All of the answers are correct.
The largest component of aggregate demand is
a. investment spending. b. consumer spending. c. government spending. d. total imports.
What is fiscal policy? What is the relationship between fiscal policy and the federal budget?