Each citizen in Nexus City has to pay $20,000 as income tax. This is an example of a ________
A) proportional income tax
B) progressive income tax
C) lump-sum tax
D) regressive income tax
C
Economics
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The value of marginal product equals ________ multiplied by ________
A) the good's market price; marginal cost B) the good's market price; marginal product C) marginal cost; marginal product D) marginal revenue; total product
Economics
A production point that lies outside the Production Possibilities Curve (PPC)
A) denotes inefficiency. B) indicates unemployment. C) is currently not attainable. D) can never be reached, even in future periods.
Economics