The 2010 U.S. Federal Personal Income six tax brackets range from 10 percent for individuals earning less than $8,025 to 35 percent for those earning over $357,700 whereas the Lithuanian tax rate for all citizens' income is 24 percent
The Lithuanian income tax system is a ________ tax and the U.S. income tax system is a ________ tax. A) progressive; proportional
B) regressive; progressive
C) proportional; regressive
D) proportional; progressive
D
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Assume an Australian importer expects to pay 16,000 Australian dollars (AUD) for $8,000 worth of U.S. goods, but on the shipment date 30 days later, the same volume of U.S. goods costs the Australian importer only 10,000 Australian dollars. This means that between the contract date and the payment date, the exchange rate has changed:
a. from $1 = 1.25 AUD to $1 = 2.0 AUD. b. from $1 = 2.0 AUD to $1 = 1.25 AUD. c. from $1 = 0.8 AUD to $1 = 0.5 AUD. d. from $1 = 0.5 AUD to $1 = 0.8 AUD. e. from $1 = 0.5 AUD to $1 = 2.0 AUD.
The concept of comparative advantage applies:
a. only to people with at least a high school diploma.
b. only to people who are currently employed.
c. to situations in which you have information about the salary levels of those with whom you are competing for a job.
d. to every case of trade or exchange.
e. only to goods that are sold in the domestic market.
Karl Marx published:
A. Das Kapital. B. General Theory of Communism. C. The Wealth of Nations. D. Capitalist Manifesto.
The telephone is an example of a product with network externalities
Indicate whether the statement is true or false