Multiple Choice
State sales taxes are considered by many economists to be _____ because _____.
A) flat; the amount of tax collected is the same regardless of the amount of the purchase
B) lump sum; the percentage of each item that is collected in taxes is the same for everyone
C) progressive; higher-income individuals buy more goods and services and pay more in taxes
D) regressive; lower-income individuals pay a larger percentage of their income in sales taxes
Correct Answer:
Verified
Correct Answer:
Verified
Q182: A horizontal demand curve has a price
Q183: If the supply of a good is
Q184: If the price elasticity of demand is
Q185: If the demand for bread is inelastic,
Q186: Which statement is TRUE?<br>A) Elasticity of demand
Q188: If soda and potato chips are complements,
Q189: (Figure: Interpreting Short-Run Supply Curves) Based on
Q190: (Figure: Impact of Tax on Market Equilibrium)
Q191: Two goods are close substitutes for each
Q192: If the demand for Quilted Northern bath