Because the income tax structure is progressive, the amount of taxes paid is a _____
a. constant fraction of income throughout the business cycle
b. larger fraction of income in expansions than in contractions
c. smaller fraction of income in expansions than in contractions
d. decreasing function of income in both expansions and contractions
e. constant amount at all levels of output and income
b
Economics
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A tractor used to prepare land for planting is called
A) land. B) labor. C) physical capital. D) human capital.
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A decrease in U.S. interest rates will, other things equal, tend to: a. lower the foreign exchange value of the dollar. b. help U.S. exporters
c. cause a net outflow of capital from the U.S. d. do all of the above.
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