Chris had a before-tax income of $20,000 and paid taxes of $3,000 . Pat had a before-tax income of $10,000 and paid taxes of $1,000 . Based on this information, which of the following is correct?
a. the tax system is regressive
b. the tax system is proportional
c. the tax system is progressive
d. the tax system is based on the benefits received
e. there is insufficient information to answer the question
C
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Refer to Figure 8.1. The ideal outcome for the players would be for Charla to play ________ and for Mirna to play ________
A) Install; Install B) Install; Don't Install C) Don't Install; Install D) Don't Install; Don't Install
What problems does a command economy face when it tries to determine what to produce for the economy?
What will be an ideal response?
Public goods are desired because
A. we want the government to spend our tax dollars. B. people want and value them but the private sector will not make them available. C. they came in small units. D. they make supply equal to demand for private goods.
In an economy, the total expenditures for a market basket of goods in year 1 (the base year) was $5,000 billion. In year 2, the total expenditure for the same market basket of goods was $5,500 billion. What was the Consumer Price Index for the economy in year 2?
A. 120 B. 115 C. 110 D. 100