The Argument for _____ Is That Both Import Controls and Export

question 65

Multiple Choice

The argument for _____ is that both import controls and export incentives are self-defeating and result in wasted resources.

• A)protectionism
• B)subsidies
• C)mercantilism
• D)unrestricted free trade

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Definitions:

Progressive Income Tax

A tax system where the tax rate increases as the taxable amount increases, meaning higher income earners pay a larger percentage of their income in taxes compared to lower income earners.

Progressive Income Tax

A tax system where the tax rate increases as the taxable amount increases, placing a higher financial burden on wealthier individuals.

Regressive Income Tax

A tax system where the tax rate decreases as the taxable amount increases, placing a higher relative burden on lower-income earners.

Marginal Tax Rate

The rate at which the last dollar of income is taxed, reflecting the rate applied to each additional dollar of income.