If Linda' annual income is $160,000 and she pays $35,000 in taxes and Paul's annual income is $100,000 and he pays $25,000 in taxes, the tax system is
a. regressive.
b. progressive.
c. proportional.
d. degressive.
a
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Which of the following groups oversees and administers the Federal Reserve System?
a. The House of Representatives. b. The President's Council of Economic Advisors. c. The U.S. Treasury Department. d. None of these, the Fed is an independent agency.
For example, let's say consumers receive a tax cut of 50
What will be an ideal response?What will be an ideal response?
In his book The Other Path, de Soto suggests that countries will grow more quickly if governments limit entrepreneurship.
Answer the following statement true (T) or false (F)
Three years ago Dr. and Mrs. Henderson moved from the house they had owned for 20 years, but did not sell it. They decided to travel and bought a mobile home to live in. They now sell the house. How much of their capital gain on the house will be taxable?
A) 15 percent, depending on their tax bracket B) 28 percent, depending on their tax bracket C) All of it, if it is over $500,000 D) None of it, if it is less than $500,000