Week 9, ECO 100 (Knowledge Check).docx - User Course Test Started Submitted Due Date Status Attempt Score Time Elapsed Instructions Renal Boyd

User Renal Boyd Course Principles of Economics Test KNOWLEDGE CHECK 9 Started 12/15/18 2:25 PM LATE Submitted 12/15/18 3:00 PM LATE Due Date 12/3/18 9:00 AM Status Needs Grading Attempt Score 0 out of 30 points Time Elapsed 34 minutes Instructions Check your understanding of this week’s key economic concepts by answering these ten multiple choice questions. You can do this quiz as many times as you’d like to keep improving your score. Results Displayed All Answers, Submitted Answers, Correct Answers  Question 1 3 out of 3 points A(n) ________________________________ is calculated as a flat percentage of income earned, regardless of level of income. Selected Answer: proportional tax Answers: progressive tax regressive tax proportional tax estate and gift tax  Question 2 3 out of 3 points During a recession, if a government uses an expansionary fiscal policy to increase GDP, the: Selected Answer: aggregate demand curve will shift to the right.