In general, personal income taxes
A) rise automatically during a recession.
B) rise automatically during an expansion.
C) rise automatically during a contraction.
D) are decreased during a recession through legislative actions of Congress.
Ans: B) rise automatically during an expansion.
Economics
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Suppose the tax rate on interest income is 25 percent, the real interest rate is 4 percent, and the inflation rate is 4 percent. In this case, the real after-tax interest rate is
A) 4.0 percent. B) .5 percent. C) 2.0 percent. D) 1.0 percent. E) 3.5 percent.
Economics
A monopolist will set its production at a level where marginal cost is equal to _____.
(A) Total revenue (B) Marginal revenue (C) The equilibrium market price (D) Quantity supplied
Economics