8. Which of the following taxes are regressive? a. sales tax b. personal income tax c. Both of the above d. Neither of the above 9. Which of the following statements are correct? Lower income households consume a higher percentage of their incomes a. b. c. Any tax that increases the prices on non-luxury goods will be regressive Both of the above d. Neither of the above 10. The federal personal income tax: a. Is a progressive tax b. is a regressive tax c. benefits productivity d. is a flat tax Chapter 14 11. Nations strive for economic growth because economic growth. a. b. will allow a nation to solve the problem of scarcity will help a nation to produce as much consumer satisfaction as possible wit limited resources available c. Both of the above d. Neither of the above 12. An increase in Real GDP: a. is absolute economic growth b. always results in a higher standard of living c. Neither of the above d. Both a. and b. 13. An increase in per capita Real GDP: a. is per capita economic growth b. always results in a higher standard of living c. Neither of the above d. Both a. and b.