A tax whose impact varies inversely with the income of the person taxed, that is, poor people pay a higher percent of their income than do rich people, is known as a

Macroeconomics often relies on microeconomic analysis because

A) microeconomics is older than macroeconomics. B) microeconomic theory can be tested and macroeconomic theory cannot be tested. C) all aggregates are made up of individuals and firms. D) the effects of macroeconomic subjects such as inflation and unemployment are independent of individual consumers and firms.

A market will tend to be more competitive when

a. there are a small number of firms in the market. b. similar products are available from alternative sellers. c. entry barriers into the market are high. d. governments require firms to meet strict regulatory standards.