Inflation reduces the purchasing power of nominal income and ...

[mp14]

Inflation reduces the purchasing power of nominal income and increases the purchasing power of fixed income.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Which of the following is an example of a progressive tax?
 a. The excise tax on cigarettes.
  b. The federal tax on gasoline.
  c. The federal personal income tax.
  d. All of these.

[trog]

Answer to Question 1

False

Answer to Question 2

c

[mp14]

Thanks for the timely response, appreciate it

[ryansturges]

Excellent