A tax that is structured so that people pay the same percentage of their income in taxes is called a(n):
a. flat tax.
b. regressive tax.
c. progressive tax.
d. excise tax.
a
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When Safeway supermarkets in the United States buys strawberries from Mexico
A) it uses dollars to pay Mexican farmers. B) it uses pesos to pay Mexican farmers. C) it may use any currency it chooses. D) the transaction shows up in the U.S. capital account.
If all producers in a market are cartel members, then the demand curve facing the cartel is
A) the market demand curve. B) horizontal. C) identical to the demand curve in the dominant firm model. D) identical to the monopolist's demand curve.
In the markets for the factors of production in the circular-flow diagram, households are buyers and firms are sellers
a. True b. False Indicate whether the statement is true or false
Refer to the above diagram. At output level Q total variable cost is:
A. 0BEQ. B. BCDE. C. 0AFQ. D. 0CDQ.