A tax structure is called progressive when:
A. The average tax rate decreases if income decreases
B. High-income groups pay more taxes absolutely than do low-income groups
C. The average tax rate on low-income groups exceeds the tax rate of high-income groups
D. The average tax rate is constant, but the absolute amount of taxes paid increases with income increases
A. The average tax rate decreases if income decreases
Economics
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In the figure above, the allocatively efficient output of computers is
A) 2 million per year. B) 3 million per year. C) 4 million per year. D) the largest amount possible.
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Goods and services are exchanged in
a. product markets b. resource markets c. inventory markets d. classified markets e. government markets
Economics