Which tax system requires higher-income taxpayers to pay a higher percentage of their income in taxes?
a. a progressive tax
b. a proportional tax
c. a regressive tax
d. a lump-sum tax
a
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Fiscal policy would be more effective if
A. potential income was unknown. B. the government could change taxes and expenditures rapidly. C. the size of the government debt didn't matter. D. crowding out occurred more often.
Which is distributed more equally: income or wealth?
What will be an ideal response?
What limits the quantity of money that the banking system can create?
What will be an ideal response?
In retaliation for U.S. support for Israel during the Arab-Israeli War, OPEC countries stopped selling oil to the United States. For the United States, this embargo caused the
a. demand curve for oil to shift out. b. demand curve for oil to shift in. c. supply curve of oil to shift out. d. supply curve of oil to shift in.