If a flat tax plan allowed individuals to deduct a standard allowance of $20,000 and the flat tax rate was 20 percent, an individual earning $100,000 would pay an average tax rate of 20%
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
When the government develops policies to stabilize the economy
A) only expansionary fiscal policy is impacted by the multiplier effect. B) only contractionary fiscal policy is impacted by the multiplier effect. C) these policies are unaffected by the multiplier effect. D) it needs to consider the multiplier effect for all fiscal policies.
The message that market economies will inevitably fail is associated with:
a. Marx b. Samuelson c. Kornai d. Olson e. Hayek
In what situation would a macroeconomist find real gross domestic product most useful?
a. when reporting the figures for economic growth in the latest quarter b. when comparing economic growth during two different decades c. when measuring the change in the unemployment rate over the past decade d. when analyzing what factors affect changes in the price level over time
What are the two largest sources of revenue for the average US state govt?
a. sales taxes and excise taxes b. corporate income taxes and property taxes c. property taxes and US import tariff revenues (taxes on imported goods) d. income taxes and sales taxes