Multiple Choice
John has just received a rather large increase in salary, but he is upset because he feels that he should not be charged a higher rate of tax on this extra money. John is being taxed by a ________ tax system.
A) provincial
B) federal
C) progressive
D) restrictive
E) regressive
Correct Answer:
Verified
Correct Answer:
Verified
Q2: The point at which the quantity of
Q3: In economic terms, a "market" is<br>A) available
Q4: Explain the terms, "command economy" and "market
Q5: Why are sales taxes called regressive taxes?<br>A)
Q6: If two people exchange an apple, they
Q8: Profit is<br>A) the market value of shares
Q9: The law of demand states that<br>A) producers
Q10: Examples of businesses include all of the
Q11: Which law forbids most monopolies in Canada?<br>A)
Q12: A command economy relies on a centralized