According to the equality-of-sacrifice doctrine, proportional income taxes impose a(n)
a. greater sacrifice on lower-income households.
b. lesser sacrifice on lower-income households.
c. greater sacrifice on higher-income households.
d. equal sacrifice on all income levels.
a. greater sacrifice on lower-income households.
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Which of the following statements is true of economic growth and GDP across the world before 1800?
A) There was sustained growth because whatever improvements in GDP were realized were invested in capital equipment. B) The income per capita in all countries throughout the world was less than $500 per capita. C) The income per capita in all countries throughout the world was more than $1,000 per capita. D) There was a lack of sustained growth because the pace of technological change was slow.
Sherry wants to rent an apartment. Although rents are below what she is willing to pay, she cannot find an apartment. Then after a month of searching, she finds an apartment but she has to pay an additional $1,000 to have the locks changed
Sherry has just experienced the effects of ________. A) a rent floor with a black market B) inelastic demand C) a market working efficiently D) a rent ceiling