A progressive tax is one for which the percentage of each added dollar of income paid in taxes
a. increases as income increases.
b. remains the same as income increases.
c. decreases as income increases.
d. is zero after a certain maximum income is reached.
a
You might also like to view...
The table above shows Tom's total utility from milkshakes and sodas. What is the marginal utility of the eighth soda?
A) 32 units B) 20 units C) 10 units D) 8 units
Barriers to trade
A) include government policies such as tariffs and quotas. B) have been falling with technological improvements in transportation and communication. C) have risen since World War II as many countries have imposed higher tariffs. D) Two of the above are true.
A farm can produce 10,000 bushels of wheat per year with 5 workers and 13,000 bushels with 6 workers. The marginal product of the sixth worker for this farm is:
a. 10,000 bushels. b. 3,000 bushels. c. 500 bushels. d. 23,000 bushels.
An increase in production possibilities is known as
A. Predictable growth. B. Factor expansion. C. Economic growth. D. Upward mobility.