If income were equally distributed among households,
a. each household's relative share of income would increase.
b. each household's relative share of income would decrease.
c. the top fifth of households would have 50 percent of the income.
d. 50 percent of the households would receive exactly 50 percent of the income.
d
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Tariffs and quotas on an imported product:
A. Benefit both domestic producers and consumers of the product B. Benefit both foreign producers and consumers of the product C. Benefit foreign producers and hurt foreign consumers of the product D. Benefit domestic producers and hurt domestic consumers of the product
The Social Security tax is
A. A regressive tax. B. A progressive tax. C. A proportional tax. D. A proportional tax at low income levels and a progressive tax at higher income levels.