If the marginal tax rate is less than the average tax rate as taxable income increases, the tax structure is
A) proportional. B) progressive. C) unfair. D) regressive.
D
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An estimated demand curve does NOT necessarily match actual data perfectly because
A) it is not possible to accurately calculate the coefficients of the curve. B) some factors that are not measured or observed may affect the curve. C) the random error term has too large of a range. D) demand is unpredictable.
Refer to the information. If the real interest rate is 5 (percent), investment will be:
Answer the question on the basis of the following information for a private closed economy. where S is saving, I g is gross investment, i is the real interest rate, and Y is GDP.
A. $10 and the equilibrium GDP will be $75.
B. $15 and the equilibrium GDP will be $100.
C. $10 and the equilibrium GDP will be $120.
D. $15 and the equilibrium GDP will be $180.