The Federal personal income tax:
A. Has a regressive structure
B. Is actually less progressive than official tax schedules would indicate because of various tax exemptions and deductions
C. Has become extremely progressive as a result of taxpayers' being pushed into higher tax brackets by higher income levels
D. Has experienced substantial increases in rates during the past two years
B. Is actually less progressive than official tax schedules would indicate because of various tax exemptions and deductions
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Direct transfer programs
a. are generally less efficient and less politically acceptable than subsidy programs b. are generally more efficient and more politically acceptable than subsidy programs c. are generally less efficient but more politically acceptable than subsidy programs d. are generally more efficient but less politically acceptable than subsidy programs e. will generally result in increased production by the group being subsidized
With the invention of banking, one important aspect of money was that
A. banks have some discretion over the money supply. B. banks have complete control over the money supply. C. governments lost all control over the money supply. D. individuals have no discretion over the money supply.