A tax is proportional if, as a person's income rises, the:
a. tax rate is constant.
b. tax rate falls.
c. tax rate rises.
d. amount of the tax is constant.
e. amount of the tax falls.
a
Economics
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The effect of a quota is to
A) increase quantity supplied and lower price. B) increase quantity supplied and increase price. C) increase demand for the good and increase price. D) reduce quantity supplied and raise price.
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Which of the following is a valid effect of monopoly power?
a. Desirable effects on the distribution of wealth. b. Efficient resource allocation. c. Fostering of innovation. d. Obstacle to efficiency.
Economics