A ________ tax system is one in which tax rates increase with taxable base incomes
A) regressive
B) progressive
C) proportional
D) supplementary
B
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The "rule of reason"
a. applies to business practices that are illegal regardless of their economic rationale or their consequences b. applies to business practices that are legal, regardless of their consequences c. means that business practices cannot be proven to be illegal, and a consent decree is required to halt the practices d. considers why a certain business practice was adopted and what the effects on competition are, before determining whether the practice is illegal e. focuses on market structure rather than on the behavior of firms in determining whether antitrust violations have occurred
Which of the following will make it more difficult for the United States to control the growth of the federal debt in the decade ahead?
a. Debt financing makes it possible for elected political officials to provide voters with highly visible current benefits without having to impose visible current cost in the form of higher taxes. b. The movement of the large baby-boom generation into the retirement phase of life will make it more difficult to control federal spending. c. The recent growth of the federal debt as a share of GDP will mean higher interest costs in the future. d. All of the above.
Suppose a human life is worth $10 million. Installing a better lighting system in the city park would reduce the risk of someone being murdered there from 3.5 to 2.9 percent over the life of the system. The city should install the new lighting system if its cost does not exceed
a. $60,000. b. $290,000. c. $350,000. d. $600,000.
Jill's utility from an additional dollar increases more when she has $400 than when she has $200. From this, we can conclude that Jill
A) has an increasing marginal utility of wealth. B) has a decreasing marginal utility of wealth. C) is risk neutral. D) has a negative marginal utility of wealth.