An income tax system where higher tax rates are applied to increased amounts of income is called:
A) a regressive tax system.
B) a proportional tax system.
C) a progressive tax system.
D) a flat rate tax system.
C
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The one characteristic that is not associated with a pure public good is
a. consumption of the good by one person doesn't prevent its consumption by others b. the market produces less than the socially optimal quantity c. no one can be excluded from consuming the good d. the good can only be produced by the government e. that even if one consumes more of it, there is still the same amount for others to consume
Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential