According to the law of diminishing utility, _____
a. the same tax rate should be applied to every dollar
b. the rich people should have a lower tax rate as compared to poor people
c. the rich people should have a higher tax rate as compared to poor people
d. the total burden on the society from a tax will be less if proportional taxation is used
e. the poorer people should not be taxed at all
c
Economics
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If the demand for KFC chicken is price inelastic, a fall in the price of KFC chicken will raise the total revenue
Indicate whether the statement is true or false
Economics
If a US citizen is employed by a US company in Russia, the income she earns is:
a. part of US GNP and Russian GDP. b. part of US GNP and Russian GNP. c. part of US GDP and Russi GNP d. part of US GDP and Russia GDP.
Economics