During 1960-1980, those with the highest incomes confronted federal marginal tax rates between 70 and 90 percent. Since 1986, the highest federal income tax rate has been less than 40 percent. Since 1986, the share of the personal income tax collected from the top one-half of one percent of earners has been
a. substantially lower than during the 1960s and 1970s.
b. only slightly lower than during the 1960s and 1970s.
c. virtually the same as during the 1960s and 1970s.
d. higher than during the 1960s and 1970s.
D
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In May 2008, Switzerland co-hosted the international soccer tournament Euro 2008. At that time, the Swiss potato industry association had been warning there could be a fry shortage because there was a potato shortage
The shortage meant that in the French fry market A) the price for French fries would be higher. B) the price for French fries would be lower. C) if the efficient quantity of fries is produced, total surplus would be minimized. D) if the inefficient quantity of fries is produced, total surplus would be maximized.
Under a head tax, the amount of tax paid is:
A. a linearly increasing function of the taxpayer's income. B. the same for all taxpayers who use the public good. C. proportional to each taxpayer's income. D. the same for all taxpayers.