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Author Question: Assume a family that earns 20,000 pays 1,500 in income taxes, while a family that earns 40,000 pays ... (Read 140 times)

Ebrown

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on: Jun 29, 2018
Assume a family that earns 20,000 pays 1,500 in income taxes, while a family that earns 40,000 pays 3,500 in income taxes. In this situation, the income tax system is
 
  A) progressive.
  B) regressive.
  C) proportional.
  D) one of the above but we cannot tell which one without more information.

Question 2

Adding the quantities demanded by all consumers at every price will yield
 
  A) the market-clearing price.
  B) the number of consumers.
  C) the total substitution effect from a price change.
  D) the market demand curve.


meganmoser117

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

A

Answer to Question 2

D


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