A family's income tax liability is
a. a standard percentage of all income earned.
b. determined by wage income rather than dividend and interest income.
c. based on total income.
d. constant from year to year.
c
You might also like to view...
When it became known in 1997 that the Thai government had insufficient foreign exchange reserves to maintain the exchange rate, how did currency speculators respond? What policy did the IMF suggest?
What will be an ideal response?
A minimum wage that is set below a market's equilibrium wage will
a. result in an excess demand for labor, that is, unemployment. b. result in an excess demand for labor, that is, a shortage of workers. c. result in an excess supply of labor, that is, unemployment. d. have no impact on employment.
Using Figure 3 above the distance between what 2 lines illustrate a recessionary expenditure gap?
A. Y1 to Y2 B. PAE1 to PAE2 C. PAE2 to PAE3 D. Y2 to Y3
Which of the following is most likely to be asset price inflation?
A. A rise in the current price of assets caused by expectation of higher asset prices in the future B. A rise in the current price of assets caused by an increase in the riskiness of financial assets C. A rise in the current price of assets caused by a shift in people's time preference D. A rise in the price of assets caused by an increase in the underlying productivity of those assets