Anger over British taxes played a significant role in bringing about the
a. election of John Adams as the second American president.
b. American Revolution.
c. War of 1812.
d. "no new taxes" clause in the U.S. Constitution.
b
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What is the difference between marginal and average tax rates? Under what marginal and average tax rate conditions would an income tax be progressive?
What will be an ideal response?
Given the following data, what is the distance from the origin to the point where the total expenditures (TE) curve cuts the vertical axis? C = $800 + 0.85Yd I = $350 G = $420
A) $1,570 B) $1,150 C) $1,220 D) $770 E) ?$1,220.85
Penny, an avocado farmer, wants to purchase a new desk that has been priced at $150. Avocados cost $2.50 each, so Penny knows that the desk is equal to 60 avocados. This illustrates money’s function as a ______.
a. means of deferred payment b. store of value c. medium of exchange d. unit of account
Assumptions of the PPC
What will be an ideal response?