Author Question: Inflation reduces the purchasing power of nominal income and increases the purchasing power of fixed ... (Read 87 times)

mp14 · **on:** Jun 30, 2018

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.