With a progressive income tax, as taxable income rises (up to a certain point), one's tax rate rises
Indicate whether the statement is true or false
True
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Any time the economy is between a trough and a peak of the business cycle it is in a recovery phase
Indicate whether the statement is true or false
A firm in the United Kingdom hires a firm in the U.S. to train its managers. By itself this transaction
a. increases U.S. imports and decreases U.S. net exports. b. increases U.S. imports and increases U.S. net exports. c. increases U.S. exports and decreases U.S. net exports. d. increases U.S. exports and increases U.S. net exports.
The controversy over affirmative action illustrates the
A. trade-off between equality and efficiency. B. incentive problems created by transfer payments. C. incentive problems created by personal income taxes. D. trade-off between progressive and regressive taxes.
A tax that is structured so that people pay the same percentage of their income in taxes is called a(n):
A. flat tax. B. regressive tax. C. progressive tax. D. excise tax.