Which of the following would be included in the consumption component of GDP?
a. Movie ticket sales
b. Purchase of a new home
c. Purchase of used clothes
d. Purchase of a baseball card collection at a yard sale
e. Purchase of a chain saw at an auction
A
Economics
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If a tax system is progressive, then
A) the average and the marginal tax rates are equal. B) the marginal tax rate is greater than the average tax rate as income rises. C) the marginal tax rate is lower than the average tax rate as income rises. D) the average tax rate is constant, but the dollar amount paid in taxes increases as income increases.
Economics
One common example of a price ceiling is rent control
a. True b. False Indicate whether the statement is true or false
Economics