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
b
Economics
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In the long run, inflation results from increases in a nation's money supply that exceed increases in its output of goods and services
a. True b. False Indicate whether the statement is true or false
Economics
A positive demand shock will
a. shift the AD curve to the left. b. increase real GDP and the price level in the short run. c. decrease real GDP and the price level in the short run. d. increase real GDP and decrease the price level in the short run. e. decrease real GDP and increase the price level in the short run.
Economics