On the Micronesian island of Yap, it is easier to make purchases with stone wheel currency than it is to make purchases with paper currency including the U.S. dollar

In which price range of the accompanying demand schedule is demand elastic?

A. $4-$3.
B. $3-$2.
C. $2-$1.
D. Below $1.

A progressive income tax system can be defined as one in which

A. the government uses taxes paid by the wealthy to fund programs for the poor. B. an individual pays more dollars in taxes when his income rises. C. the marginal tax rate rises over time. D. the average tax rate is higher for individuals with higher incomes.