Author Question: If a flat tax plan allowed individuals to deduct a standard allowance of 20,000 and the flat tax ... (Read 117 times)

nelaaney · **on:** Jun 30, 2018

If a flat tax plan allowed individuals to deduct a standard allowance of 20,000 and the flat tax rate was 20 percent, an individual earning 100,000 would pay an average tax rate of 20.
a. True
b. False
Indicate whether the statement is true or false

Question 2

An upward-sloping supply curve of Korean won in terms of Canadian dollars indicates that:
a. the higher the dollar price of Korean won, the more won will be demanded.
b. the higher the dollar price of Korean won, the fewer won will be supplied.
c. the lower the dollar price of Korean won, the more won will be demanded.
d. the lower the dollar price of Korean won, the fewer won will be supplied.
e. the Korean economy is stronger than the Canadian economy.