With a lump-sum tax, the
a. marginal tax rate is always less than the average tax rate.
b. average tax rate is always less than the marginal tax rate.
c. marginal tax rate falls as income rises.
d. marginal tax rate rises as income rises.
a
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Which of the following taxes are more easier to collect in industrial countries than in developing countries?
a. Sales tax b. Capital gains tax c. Personal income tax d. Business tax e. Export tax
Comparative advantage explains how two nations can benefit from trade.
Answer the following statement true (T) or false (F)
A natural measure of the association between two random variables is the correlation coefficient.
Answer the following statement true (T) or false (F)
Which of the following statements is NOT true?
A. The supply of money decreases when the Federal Reserve Banks buy government securities from households or businesses. B. Excess reserves are the amount by which actual reserves exceed required reserves. C. Commercial banks increase the supply of money when they purchase government bonds from households or businesses. D. Commercial bank reserves are an asset to commercial banks but a liability to the Federal Reserve Banks.