Being penalized via taxes for making more money in dollars even though your purchasing power hasn't changed at all is called:
A. tax distortion.
B. shoe-leather costs.
C. menu costs.
D. the velocity of inflation.
A. tax distortion.
Economics
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The price of chicken increases as the result of higher beef prices. This indicates that
a. chicken and beef are substitutes. b. chicken and beef are complements. c. the market demand for beef is inelastic. d. the market demand for chicken is elastic.
Economics
Which of the following programs is most clearly advantageous to those with lower levels of income?
a. farm subsidy programs b. the Social Security retirement program c. the Earned Income Tax Credit d. credit subsidies provided by the Import-Export bank to business firms that sell goods abroad
Economics