An example of a lump-sum tax is a(n):
A. income tax.
B. property tax.
C. sales tax.
D. head tax.
D. head tax.
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In the above figure, by increasing its output from Q2 to Q3, the firm
A) reduces its marginal revenue. B) increases its marginal revenue. C) decreases its profit. D) increases its profit.
A price elasticity (ED) of ?1.50 indicates that for a ____ increase in price, quantity demanded will ____ by ____
a. one percent; increase; 1.50 units b. one unit; increase; 1.50 units c. one percent; decrease; 1.50 percent d. one unit; decrease; 1.50 percent e. ten percent; increase; fifteen percent
Which of the following concepts does not represent basic trade-offs faced by a government?
A. The Phillips curve. B. Fine-tuning. C. Opportunity costs. D. The production possibilities curve.
Medicare's costs have
A. risen, but only with inflation. B. risen on a per capita basis, even accounting for inflation. C. risen, but at a rate less than inflation. D. actually fallen on a per capita basis.