A tax system in which the tax rate on everyone's first $10,000 of income is 10 percent, the tax rate on everyone's second $10,000 of income is 15 percent, and the tax rate on all income over $20,000 is 25 percent is a(n)
a. proportional tax
b. equitable tax
c. head tax
d. unit tax
e. progressive tax
E
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Demand deposits are termed so because:
A) depositors can withdraw money from such deposits at any point of time. B) there are no limitations on the amount of money that can be deposited into such accounts. C) depositors can demand any rate of interest on such deposits. D) most consumers want to open such accounts as they are greatly in demand.
Government tax revenues ________ during an expansion and ________ during a recession, which leads to larger budget deficits during the ________ phase of the business cycle
A) decrease; increase; expansion B) decrease; decrease; expansion C) increase; decrease; expansion D) increase; decrease; recession E) increase; increase; recession
If two quick oil change companies agree that one company will purchase locations in rural and suburban areas and the other company will purchase locations in the urban areas, this is an example of ________.
A) bid rigging B) price fixing C) output restrictions D) market division
A local restaurant offers an "all-you-can-eat" salad bar for $3.49. However, with any sandwich, a customer can add the "all-you-can-eat" salad bar for $1.49. This is an example of
A) peak-load pricing. B) second-degree price discrimination. C) a two-part tariff. D) tying. E) none of the above