In general, Democrats tend to prefer
a. higher marginal tax rates to promote vertical equity, while Republicans tend to prefer lower marginal tax rates to promote incentives to work and save.
b. lower marginal tax rates to promote vertical equity, while Republicans tend to prefer higher marginal tax rates to promote incentives to work and save.
c. higher marginal tax rates to promote incentives to work and save, while Republicans tend to prefer lower marginal tax rates to promote vertical equity.
d. lower marginal tax rates to promote incentives to work and save, while Republicans tend to prefer higher marginal tax rates to promote vertical equity.
a
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An increase in Social Security payments to retired persons has what effect on equilibrium income?
a. GDP will fall. b. GDP will rise. c. GDP will remain the same. d. GDP will fall by less than the increase in payments.
Your grandfather tells you that he earned $.50 per hour at his job when he was a boy in 1929
a. Given that the CPI was 17.1 in 1929 and 184.0 in 2003, how much would you have to make in 2003 to have the same real hourly wage? b. You made $5.50 an hour working during 2003 . Were you better off than your grandfather in terms of purchasing power? Explain. c. Your grandfather also tells you that a soda cost $.05 in 1929, and you know a soda cost $.55 in 2003 . You decide to use the price of a soda as the price index. How much would the 2003 "soda equivalent" of $.50 per hour in 1929 be?
According to the aggregate demand and aggregate supply model, in the long run a decrease in the money supply leads to
a. decreases in both the price level and real GDP. b. an increase in real GDP and an increase in the price level. c. a decrease in the price level but does not change real GDP. d. an increase in the price level but does not change real GDP.
It will not benefit a seller to provide verifiable information to buyers about the seller's product
Indicate whether the statement is true or false