The big-push approach to economic development requires little government intervention

Because the price elasticity of supply for jumbo jets is 0.35, the supply of jumbo jets is

A) elastic. B) unit elastic. C) inelastic. D) perfectly elastic. E) perfectly inelastic.

A progressive income tax system can be defined as one in which

a. the government uses taxes paid by the wealthy to fund programs for the poor. b. an individual pays more dollars in taxes when his income rises. c. the marginal tax rate rises over time. d. the average tax rate is higher for individuals with higher incomes.