A highly progressive tax takes relatively more from the rich than it does from the poor.
Answer the following statement true (T) or false (F)
True
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Wealth is to ________ as capital stock is to ________
A) investment; saving B) saving; investment C) income; net investment D) income; earnings E) saving; depreciation
As an individual earns additional income, the marginal utility of income tends to
A. Decrease. B. Increase. C. Remain constant. D. Shift toward the origin.
Which of the following is a macroeconomic question?
A. Should we have a constitutional amendment requiring the government to implement a national consumption tax to replace the current income tax? B. Why did a leading computer manufacturer establish call centers in India? C. Why does a pharmaceutical manufacturer try to lower its production costs? D. Should the government put a tax on alcohol in an attempt to assist in the funding of support groups like Alcoholics Anonymous?
A capital gains tax acts to
A) reduce the interest rate received by loan demanders. B) increase the interest rate received by loan demanders. C) increase the interest rate received by loan suppliers. D) reduce the interest rate received by loan suppliers.