With a proportional tax, higher-income persons will pay:
A. The same amount of taxes as lower-income persons
B. A bigger amount in taxes compared to lower-income persons
C. A higher proportion of their income in taxes than lower-income persons
D. A higher marginal tax rate as their incomes rise
B. A bigger amount in taxes compared to lower-income persons
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For a perfectly competitive sugar producer in Haiti, a short-run economic profit will occur if the price of each ton of sugar sold is
A) greater than the average total cost of producing sugar. B) equal to the average total cost of producing sugar. C) less than the average total cost of producing sugar. D) rising as more sugar is sold. E) greater than the marginal revenue of each ton of sugar.
The market supply curve of labor for an occupation is positively sloped in part because an increase in the wage rate will encourage more people to work in that occupation.
Answer the following statement true (T) or false (F)