Suppose Molly has an income of $35,000 annually and has inherited a savings account of $20,000. Wyatt has a job that pays $35,000 annually, but has debts totaling $6,000. Which of the following is TRUE?
A) We can expect Wyatt and Molly to save the same proportion of their incomes this year.
B) We can expect Molly to save more than Wyatt this year.
C) We can expect Wyatt to save more than Molly this year.
D) We can expect Wyatt and Molly to have equal amounts of consumption this year.
C
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How can a proprietorship or partnership raise funds for expansion?
A) take on a partner or more partners B) reinvest profit back into the business C) borrow from someone or an institution willing to lend the funds D) Any of these would generate funds for expansion.
A person whose income has increased from $10,000 to $20,000 finds that her Federal marginal tax rate has increased from 18 percent to 22 percent. This is an example of a:
A. Regressive tax B. Progressive tax C. Proportional tax D. Fair tax