Economic freedom is present, at least in part, when
A) there are no property rights to limit people's freedom.
B) there is no private property.
C) people are able to make personal choices.
D) there is no government.
E) money is free.
C
Economics
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Showing the government's budget deficit as a percentage of nominal GDP is a simple way to correct for the effects of both inflation and the ability of the economy to handle the deficit.
What will be an ideal response?
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If personal income up to and including $25,000 is not taxed, income of $25,001 to $50,000 is taxed at 10%, and income over $50,000 is taxed at 20%, then a family earning an income of $75,000 will pay an AVERAGE tax rate of:
a. 5% b. 20% c. 7.5% d. 10%
Economics