Author Question: When the government levies a tax where everyone is taxed the same fixed percentage of their incomes, ... (Read 35 times)

fox · **on:** Jun 30, 2018

When the government levies a tax where everyone is taxed the same fixed percentage of their incomes, this tax is known as a(n):
a. regressive tax.
b. progressive tax.
c. proportional tax.
d. excise tax.
e. luxury tax.

Question 2

Assume the United States can use a given amount of its resources to produce either 20 airplanes or 8 automobiles and Japan can employ the same amount of its resources to produce either 20 airplanes or 10 automobiles. The U.S. should specialize in:
a. airplanes. b. automobiles.
c. both goods. d. neither good.