According to Say's law, there cannot be overproduction of goods and services because:
a. planned aggregate expenditures sometimes fall short of total output.
b. prices and wages are sticky or inflexible in the downward direction.
c. demand creates its own supply.
d. supply creates its own demand.
Question 2
If a person is taxed 100 on an income of 1,000 . taxed 200 on an income of 2,000 . and taxed 300 on an income of 3,000 . this person is paying a(n):
a. progressive tax.
b. poll tax.
c. regressive tax.
d. excise tax.
e. proportional tax.
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