A tax system in which the average and marginal tax rates are the same for every level of taxable income and every change in income is an example of
A) regressive taxation.
B) proportional taxation.
C) progressive taxation.
D) premium taxation.
B
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The use of psychological incentives to solve commitment problems would be least effective in games played:
A. once between strangers. B. repeatedly between strangers. C. repeatedly between family members. D. once between family members.
Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for motorcycles at the intersection of D1 and S1 (point A). If there is a surplus of motorcycles how will the equilibrium point change?
A) The equilibrium point will move from A to B. B) There will be no change in the equilibrium point. C) The equilibrium point will move from A to C. D) The equilibrium point will move from A to E.
Which of the following was NOT a result of the passage of the Gramm-Leach-Bliley Act?
A) It repealed the Glass-Steagall Act. B) It allowed commercial banks to participate in securities, insurance, and real estate activities. C) It authorized new financial holding companies which permitted securities and investment firms to own commercial banks. D) It increased the capital requirements for commercial banks.
A lottery is the only fair means in which to ration a good
Indicate whether the statement is true or false