The Federal personal income tax:
A. Has a regressive structure
B. Is actually less progressive than official tax schedules would indicate because of various tax exemptions and deductions
C. Has become extremely progressive as a result of taxpayers' being pushed into higher tax brackets by higher income levels
D. Has experienced substantial increases in rates during the past two years
B. Is actually less progressive than official tax schedules would indicate because of various tax exemptions and deductions
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The financial system:
A. gathers information about the economy in an effort to inform the public. B. brings together savers and borrowers in a set of interconnected markets where people trade a variety of financial products. C. connects the government to those truly in need of public services. D. is used to help individuals keep track of the general price level.
U.S. exports tend to decrease when
A. foreign GDPs are rising. B. the inflation rate in the United States is lower than the inflation rates in other countries. C. U.S. prices are low relative to those in the rest of the world. D. economic activity abroad is decreasing.