Which statement is true?
A. Income is fairly evenly distributed in the U.S.
B. The richest 1% of our population has nearly 50% of the income.
C. The percentage of Americans below the poverty line has been falling steadily (except for recession) since the 1950s.
D. Eleven percent of the children under six living in a two parent home are poor.
D. Eleven percent of the children under six living in a two parent home are poor.
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Politicians and citizens may often choose policies that reduce economic efficiency because they are perceived as "fairer."
a. True b. False Indicate whether the statement is true or false
Which of the following taxes is based on the ability-to-pay principle?
a. Road taxes paid by the buyers of gasoline b. Progressive income taxes that pay for scientific research c. Payroll taxes that pay for Social Medicare d. Education taxes paid by parents