Consider two people, Sandy Ross, who earns $25,000 . and Gary Belcher, who earns $50,000 . If the flat-tax rate is 20 percent, then:
a. the government collects a total of $20,000.
b. Gary pays twice the tax amount Sandy pays.
c. Gary pays three times the tax amount Sandy pays.
d. Gary and Sandy pay exactly the same tax amount.
e. Gary pays $15,000 in taxes.
b
Economics
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In the figure above, international trade ________ total surplus in the United States by ________
A) increases; $1.92 billion B) decreases; $2.56 billion C) increases; $4.8 billion D) decreases; $3.6 billion
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In the model of monopolistic competition, compared to a firm with a lower marginal cost, a firm with a higher marginal cost will set a ________ price, produce ________ output, and earn ________ profits
A) higher; less; less B) lower; more; more C) higher; more; more D) lower; less; less E) higher; less; more
Economics