1. In economics, a public good: Group of answer choices Is any good produced by the...
1. In economics, a public good:
Group of answer choices
Is any good produced by the government.
Has social costs of production lower than private costs of production.
Can be denied to consumers who have not paid their taxes.
None of the above.
2. Suppose that if your income is $50,000, your tax is $10,000, but if your income is $90,000, your tax is $18,000. Such a tax is:
Group of answer choices
Proportional.
Progressive.
Regressive.
Similar to our current federal income tax structure.
Homework Answers
1. Has a social costs of production lower than private cost of production
2. proportional
When taxes increase with increase in income we have proportional tax system
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