A taxpayer pays __________ tax rate on additional income if the income tax structure is progressive, __________ tax rate on additional income if the income tax structure is proportional, and __________ tax rate on additional income if the income tax structure is regressive
A) a higher; a lower; the same
B) a higher; the same; a lower
C) a lower; a higher; the same
D) the same; a lower; a higher
E) the same; a higher; a lower
B
Economics
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Which of the following is not true with regard to the aggregate expenditure model? a. It explains short-run business cycles
b. It explains inflation. c. It assumes that consumption spending is the primary determinant of aggregate demand. d. It includes investment, government spending, and net exports.
Economics
A budget surplus is defined as the amount that the
a. government owes to lenders at any moment in time. b. government spends in any time period. c. government's expenditures exceed receipts in any time period. d. government's receipts exceed expenditures in any time period.
Economics