If a tax is progressive, then:
A. The average and marginal tax rates are always equal
B. As the tax base increases, the marginal tax rate declines
C. As the tax base rises, the average tax rate is greater than the marginal tax rate
D. As the tax base increases, the marginal tax rate is greater than the average tax rate
D. As the tax base increases, the marginal tax rate is greater than the average tax rate
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Last year in the United States, the price of snowboards rose by 5 percent and the price rise resulted in a 15 percent increase in the quantity supplied. This outcome is an indication that
A) the supply curve of snowboards shifted rightward. B) the supply of snowboards is price elastic. C) some firms entered into the snowboard industry. D) All of the above answers are correct.
Which of the following addresses agency costs?
a. spot checks of the quality of employee work b. hiring only from job fairs c. instituting longer work days d. reducing the number of holidays