The United States payroll tax is progressive.
Answer the following statement true (T) or false (F)
False
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The vertical axis of a graph that shows a market supply curve indicates the
A. various quantities of output at which the market will be cleared. B. cost of the amount of output produced. C. number of sellers who are in the market for this product. D. prices at which firms would be willing and able to sell their different products.
The price elasticity of demand of a straight-line demand curve is:
A. elastic in high-price ranges and inelastic in low-price ranges. B. elastic but does not change at various points on the curve. C. inelastic but does not change at various points on the curve. D. 1 at all points on the curve.
Every good that the government provides is an example of a public good.
Answer the following statement true (T) or false (F)
The fraction of additional income spent on imports is called the
A) marginal propensity to export. B) import function. C) marginal propensity to import. D) trade balance.