Consider an economy made up of 100 people, 60 of whom old jobs, 10 of whom are looking for work, and 15 of whom are retired. The number counted as unemployed is:

Data collected on a sample of individuals with different characteristics at a specific point in time are called:

A) cross-section data. B) time series data. C) panel data. D) none of the above.

Mr. Thomson has a before-tax income of $20,000 and paid taxes of $2,000 . Ms. Lynch had a before-tax income of $10,000 and paid taxes of $1,500 . Based on this information, which of the following is correct?

a. The tax system is progressive. b. The tax system is proportional. c. The tax system is regressive. d. The tax system is based on the benefits received. e. There is insufficient information to answer the question.