When a tax is progressive, the average tax rate:
A. is constant with income.
B. increases with income.
C. decreases with income.
D. first increases with income, then decreases with income.
Answer: B
You might also like to view...
The federal government’s research and experimentation plan is a(n) _____________ to stimulate private sector investment in research.
a. economic prize b. subsidy c. collaboration d. tax credit
Sidney Featherstone of TIP Inc. is the owner and CEO of the company. He has made the company successful through his decision making over the years. This year he decided to retire and move to Costa Rica. He does not intend to change any aspects of decision making, rewards, or performance evaluation in TIP Inc. What is likely to happen to TIP? Why?
What will be an ideal response?
At Phil's Pretzel Stand, we found the following: 4 laborers produced 66 pretzels 5 laborers produced 76 pretzels 6 laborers produced 85 pretzels 7 laborers produced 88 pretzels What was the marginal product of the sixth laborer?
A) 10 pretzels B) 9 pretzels C) 6 pretzels D) 3 pretzels
Perfectly competitive firms maximize their profit by producing the output level where P = MR = AVC.
Answer the following statement true (T) or false (F)