Judging from their statements, which of the following people is most likely to support supply-side economic policies?
a. Savana, who says government should increase corporate taxes to make the rich pay their fair share
b. Leonardo, who says the government should spend more money to finance social welfare programs
c. Brenda, who says government should ease its oversight of most types of businesses
d. Octavio, who says the government should tax capital gains at regular income rates
c. Brenda, who says government should ease its oversight of most types of businesses
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A tax is said to be progressive if
a. the absolute size of the tax (in dollars) increases as income increases b. the wealthy pay a smaller percentage of their income than the poor c. the average tax rate falls as income rises d. the proportion of income paid as taxes increases as income increases e. the proceeds are used to pay for liberal political programs
The result of the calculation of the price elasticity of demand is
A) always positive. B) always negative. C) sometimes positive, sometimes negative. D) always greater than one.