A consumption tax is a tax on
a. goods but not on services.
b. the amount of income that people spend.
c. the amount of income that people earn.
d. the amount of income that people save.
b
Economics
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In the long run, the price level adjusts
A) to achieve money market equilibrium. B) so that the inflation rate equals the growth rate of real GDP. C) so that the inflation rate equals zero. D) so that the inflation rate is moderate. E) so that the real interest rate equals the nominal interest rate.
Economics
Economists consider instances of increasing marginal utility to be
a. normal. b. impossible. c. unusual, as in the case of addictions. d. irrational.
Economics