Taxes are either

a. regressive, proportional, or degressive.
b. regressive, proportional, or progressive.
c. degressive, proportional, or progressive.
d. regressive, progressive, or degressive.

b

Economics

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Both the permanent-income and life-cycle hypotheses make the assumption that people prefer a ________ consumption pattern in the long run, and so have a ________ short-run MPC out of sudden changes in income

A) smooth, low B) smooth, high C) jagged, low D) jagged, high

Economics

On the graph above, if the U.S. economy is at point B in 2009, then the economy in 2010 is best represented by point ________

A) A B) B C) C D) D E) any of the labeled points is as good as the others

Economics