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Questions and Answers
Which of the following is an example of a regressive tax?
Which of the following is an example of a regressive tax?
- Sales tax (correct)
- Progressive income tax
- Value-added tax (VAT)
- Property tax
What is the main objective of microeconomics?
What is the main objective of microeconomics?
- Examining global trade patterns
- Analyzing individual consumer behavior and market dynamics (correct)
- Assessing the impact of government policies on businesses
- Studying the overall economy of a country
What is the 'Phillips curve' in economics?
What is the 'Phillips curve' in economics?
- Illustrates the impact of interest rates on investment
- Describes the movement of exchange rates
- Shows the relationship between inflation and unemployment (correct)
- Represents the relationship between supply and demand
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