A proportional tax rate
a. rises as the tax base rises.
b. falls as the tax base rises.
c. imposes an equal sacrifice on all income levels.
d. remains unchanged as the tax base rises.
d. remains unchanged as the tax base rises.
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You own a tract of trees and are deciding whether to harvest them now or next year. If you harvest them now, you can invest the proceeds and get a return of 5% on your investment. What should you do?
a. Let the trees grow as long as their dollar worth increases by more than 5% b. Let the trees grow c. Cut down the trees, and sell them d. Let the trees grow as long as their dollar worth increases by less than 5%
An outward shift of an economy's production possibilities curve is caused by:
a. an increase in capital. b. an increase in labor. c. an advance in technology. d. all of these.