Which of the following can be classified as a regressive tax?

According to the law of demand

A) people buy more of a good when the price rises. B) people buy more of a good when their income rises. C) people buy more of a good when the relative price rises. D) people buy more of a good when the price falls.

The idea that nominal variables are heavily influenced by the quantity of money and that money is largely irrelevant for understanding the determinants of real variables is called the

a. velocity concept. b. Fisher effect. c. classical dichotomy. d. Mankiw effect.