A progressive tax:
a. is designed to take a larger percentage of higher incomes as compared to lower incomes
b. takes a greater proportion of the income of lower-income groups than of higher-income groups.
c. is designed so that everybody would be charged the same percentage of their income.
d. is designed to take a smaller percentage of higher incomes as compared to lower incomes.
a
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The two major types of finance company are
A) captive and specialty. B) public and private. C) consumer and commercial. D) insured and uninsured.
According to Hernando de Soto, poor countries should focus their development policies on all of the following except
A. Reducing bureaucratic barriers. B. Improving infrastructure to facilitate business activity. C. Increasing taxes on private companies. D. Encouraging private ownership.
A government can change domestic interest rates to influence short-term capital flows and thereby defend a fixed exchange rate.
Answer the following statement true (T) or false (F)
Income-in-kind is
A) money income. B) received in the form of goods and services. C) income in dollars. D) used to buy goods and services.