If Elmer Lach is taxed $100 on an income of $1,000 . Toe Blake is taxed $180 on an income of $2,000 . and Maurice Richard is taxed $220 on an income of $3,000 . the tax system is
a. progressive
b. poll
c. proportional
d. regressive
e. head
D
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Suppose after graduating from college you get a job working at a bank earning $30,000 per year. After two years of working at the bank earning the same salary, you have an opportunity to enroll in a one-year graduate program that would require you to quit your job at the bank. Which of the following should not be included in a calculation of your opportunity cost?
a. the cost of tuition and books to attend the graduate program b. the $30,000 salary that you could have earned if you retained your job at the bank c. the $45,000 salary that you will be able to earn after having completed your graduate program d. the value of insurance coverage and other employee benefits you would have received if you retained your job at the bank
What two things must governments be able to do to regulate pollution and create a market for pollution?
a. easily identify polluters and monitor their behavior b. easily identify polluters and what pollution they are putting into the air and water c. easily identify polluters and know their cost structure to charge them accordingly d. none of the above
Which of the following statements is true?
A. Discrimination against women and blacks reduces the demand for these workers resulting in lower wages paid these workers. B. Discrimination is no longer a problem in the United States. C. A negative income tax system is a plan where everyone pays the same percentage of their income as taxes. D. A negative income tax system is a plan where those below a certain income receive a cash payment from government.
The substitution effect refers to
A) the law of diminishing marginal utility. B) the want-satisfying power of a good or service. C) substitution of less expensive commodities for more expensive commodities. D) the change in purchasing power when the price of a good changes.