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
B. Progressive tax
Economics
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The law of decreasing returns applies to
A) the long-run average cost curve. B) average total cost. C) diseconomies of scale. D) changes in a variable input with a given quantity of fixed inputs. E) changes in a fixed input with a given quantity of variable inputs.
Economics
The fractional reserve characteristic of the banking system allows banks to create money and also create wealth from bank deposits. Describe why this statement is or is not true
Economics