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Author Question: The Lithuanian tax rate for all citizens' income is 24 percent. If the Lithuanian government was ... (Read 20 times)

cabate

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on: Jun 29, 2018
The Lithuanian tax rate for all citizens' income is 24 percent. If the Lithuanian government was concerned about income inequality, they should change the tax system from a system that is currently ________ to a system that is ________.
 
  A) progressive; proportional
  B) regressive; progressive
  C) proportional; progressive
  D) proportional; regressive

Question 2

Consumption possibilities are limited by total utility. True or false? Explain.
 
  Indicate whether the statement is true or false


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Cheesycrackers

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

False. Consumption possibilities are limit by the consumers' income and by the prices of goods and services they buy. Total utility does not limit consumption, it is a measure of total benefit that consumers get from consumption of goods and services.


cabate

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Reply 2 on: Jun 29, 2018
Excellent

matt95

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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