Which of the following would be an example of how pure luck contributes to income inequality?
A. Approval to receive unemployment benefits
B. Receipt of a government grant for housing
C. Selection as winner of a state lottery
D. Admission to a state university
C. Selection as winner of a state lottery
Economics
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The amount of a tax paid by the sellers will be larger the more ________ the demand and the more ________ the supply
A) elastic; inelastic B) inelastic; elastic C) inelastic; inelastic D) elastic; elastic
Economics
When the government levies a tax where everyone is taxed the same fixed percentage of their incomes, this tax is known as a(n):
a. regressive tax. b. progressive tax. c. proportional tax. d. excise tax. e. luxury tax.
Economics