Which of the following is a regressive tax?
A. a state tax of 5 percent of income
B. a local sales tax of 5 percent
C. the federal individual income tax
D. a federal flat tax of 30 percent
Answer: B
Economics
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Most developing countries oppose including labor standards in trade agreements because
A) they believe this would involve a loss of their national sovereignty. B) they believe this would limit their ability to export to rich markets. C) they believe this would create an uneven playing field. D) multinational corporations control them. E) they do not want to improve wages for their workers.
Economics
Sarah has the utility function U(X,Y) = X.5Y.25. When Sarah consumes X = 2 and Y = 6 she has a marginal rate of substitution of
A) -12. B) -1/6. C) -6. D) -1/12.
Economics