Since 1980, our national debt as a percentage of GDP has

Suppose, on average, a family in Church Falls earning $60,000 per year paid 6 percent of its income in state taxes. A family earning $80,000 paid, on average, $4,760 in state income taxes

Are state taxes in Church Falls progressive or regressive? Be sure to explain the difference between a progressive tax and a regressive tax.

The main reason for holding _______ instead of ______ is that _______ is (are) useful for buying things.

a) bonds; money; bonds b) demand deposits; currency; demand deposits c) currency; demand deposits; currency d) money; interest-bearing assets; money e) interest-bearing assets; money; interest-bearing assets