The velocity of money is 4. If nominal GDP is $1,200 billion then the stock of money

A tax that taxes a larger percentage of an individual's income as their income rises is called a _____

a. proportional tax b. progressive tax c. head tax d. regressive tax

A budget constraint:

A. shows different bundles of goods that all yield the same total utility. B. shows different bundles of goods that all cost the same amount. C. shows different bundles of goods that all maximize an individual's utility. D. shows how much income is needed to maximize total utility.