The United States imports garments from third world countries. This means that if the U.S. economy were closed, the domestic price of goods would be ________ the world price of garments.

Assume that you pay $10,000 of tax on a taxable income of $50,000. If your taxable income were $150,000, your tax payment would be $25,000. This suggests the tax is:

A. progressive. B. proportional. C. regressive. D. discriminatory.

In general, as wages increase:

A. the benefit of working goes down. B. people are willing to work more. C. it does not affect people's willingness to work. D. people are willing to work less.