Which of the following tax systems would best represent the ability-to-pay principle?
a. A constant tax rate
b. A marginal tax rate that is directly proportional to income
c. A marginal tax rate that is directly proportional to income up to a certain limit at which it becomes constant
d. A marginal tax rate that is inversely proportional to income
b
Economics
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Compared with the U.S., developing countries
a. face geographic conditions that limit productivity. b. have universal health care that prevent the spread of diseases. c. more political stability. d. higher levels of educational attainment.
Economics
Which of the following terms is used to describe a situation in which the price of an asset rises above what appears to be its fundamental value?
a. "random walk" b. "random bubble" c. "speculative bubble" d. "speculative hedge"
Economics