Which of the Following Would Indicate That an Income Tax

question 176

Multiple Choice

Which of the following would indicate that an income tax is progressive?

• A)high-income people pay $3, 000; low-income people pay $1, 000
• B)low-income people pay $3, 000; high-income people pay $1, 000
• C)high-income and low-income people all pay $1000 each
• D)high-income people pay 20 percent of their income in taxes; low-income people pay 10 percent
• E)both high-income and low-income people pay 10 percent of their income in taxes

Illustrate the role of supply and demand in determining market equilibrium and prices.

Evaluate the effects of changes in supply and demand on market equilibrium, including shifts in demand and supply curves.

Understand how price ceilings affect housing markets and the supply of housing.

Recognize the implications of surplus and shortage on market conditions and how they adjust to reach equilibrium.

---

Definitions:

Emotion

A complex reaction pattern, involving experiential, behavioral, and physiological elements, by which an individual attempts to deal with a personally significant matter or event.

Psychodynamic

Pertaining to a psychological perspective that emphasizes the interplay of unconscious and conscious forces in shaping personality, behavior, and thought processes.

Personality

A combination of characteristics or qualities that form an individual's distinctive character.

Motives

Internal states or desires that drive individuals to take actions towards achieving specific goals.