Under a progressive tax system:
a. the average tax rate increases with increases in real GDP.
b. the average tax rate remains constant with changes in real GDP.
c. the average tax rate falls with increases in real GDP.
d. government tax receipts increase when the economy is in a recession.
e. government tax receipts decrease when the economy is expanding.
a
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The financial systems of __________ have major firms working all their external financing through a single bank
A) Japan and the United Kingdom B) the United States and the United Kingdom C) Germany and the United Kingdom D) Japan and Germany
The 1819 panic was caused by the Second Bank of the United States, which called on the state banks to redeem their notes in order to acquire $4 million in specie to pay the borrowing that had been undertaken in Europe in 1803 to finance the Louisiana
Purchase. Indicate whether the statement is true or false
A primary difference between rebates and coupons?
A) Coupons allow individuals to sort themselves into the high-elasticity group after the sale. B) Neither coupons or rebates are redeemed in high numbers. C) Rebates allow individuals to sort themselves into the high-elasticity group after the sale. D) Coupons are legal and rebates are illegal.
Exhibit 14A-1 Aggregate demand and supply model
?Beginning from short-run equilibrium at point E2 in Exhibit 10A-1, the economy's movement to a new position of long-run equilibrium would best be described as:
A. ?a movement along the AD2 curve with a shift in the SRAS1 curve. B. ?a movement along the SRAS2 curve with a shift in the AD2 curve. C. ? a shift in the LRAS curve to an intersection at E1. D. ?no shift of any kind.