If the marginal tax rate equals the average tax rate, the tax would be
A. proportional.
B. regressive.
C. progressive.
D. uniform.
Answer: A
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A natural monopoly exists when, throughout the range of market demand,
a. average cost is increasing b. there are diseconomies of scale c. average cost is decreasing d. average cost is constant e. marginal cost exceeds average cost
A tariff placed on a foreign good will
A) reduce the price of a competing domestic good. B) increase the price of a competing domestic good. C) increase the quantity sold of both the foreign and competing domestic good. D) reduce the quantity sold of both the foreign and competing domestic good.
Related to the Economics in Practice on p. 431: The economist most closely associated with the development of the National Income and Product Accounts (NIPAs) is
A. Simon Kuznets. B. John Maynard Keynes. C. Alan Greenspan. D. David Ricardo.
Identify the correct statement regarding business ethics.
A. Business ethics seeks to proscribe those behaviors that maximize an organization's profit. B. Business ethics seeks to proscribe those behaviors that maximize an employee's productivity. C. Business ethics and organizational architecture are interdependent. D. Business ethics and organizational architecture are independent of each other.