A tax whose burden is the same proportion of income for all households is
A. an equal tax.
B. a regressive tax.
C. a proportional tax.
D. a progressive tax.
Answer: C
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Suppose the exchange rate is initially set at 120 yen per dollar and increases to 140 yen per dollar. This would be expected to cause the price of Japanese goods in the U.S. economy to
A. decrease. B. change in a manner that cannot be determined without additional information. C. remain the same since domestic demand remains the same. D. increase.
Which of the following types of mortgage loans became more common during the housing boom of the early-to-mid 2000s?
A) those with flawed credit histories B) thirty-year, fixed-rate mortgages C) prime Mortgages D) those with down payments of at least 20%
Insoul Inc has been granted a form of legal protection that prevents other firms from copying its original music compositions for commercial purposes. The legal restriction that Insoul Inc has been offered is a: a. trademark. b. subsidy
c. copyright. d. patent.
Which of the following does NOT change supply?
A. Changes in technology B. Changes in expectations about prices C. Prices D. Numbers of suppliers