An excise tax on gasoline is regressive if
a. rich people buy more gasoline than poor people.
b. the demand for gasoline is elastic.
c. the tax causes people to buy less gasoline.
d. poor people spend a larger portion of their incomes on gasoline than rich people.
d
Economics
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The purchasing power of the dollar
A) varies directly with the purchasing power of other major currencies such as the euro and the Japanese yen. B) varies inversely with the price level. C) varies directly with the price level. D) varies directly with the price of gold.
Economics
The imposition of a tariff will typically ________ government revenue and ________ domestic production of the good
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease E) increase; not change
Economics