If you discovered that a country had an income tax system whereby the marginal and average tax rates were the same for all income levels what might you conclude is true about the structure of this income tax system
How is it possible in other words for the marginal and average tax rate to be the same?
The marginal and average tax rate could be the same if there were only one tax bracket and all income were subject to taxation.
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Given the accelerationist Phillips curve ?? = - 0.3 (U - 6 ) + ?, suppose that inflation in the preceding period was 3 percent, unemployment is 6 percent, and there is a price shock of 2 percent. The current inflation rate is ________
A) 3 percent B) 0.2 percent C) 5 percent D) 1 percent E) none of the above
The United States balance of payments accounts
a. records all earnings from the foreign activities of U.S. residents. b. records all expenditures of U.S. citizens' abroad. c. records all earnings from the foreign activities of foreign governments. d. Both a and b e. All of the above
Why is the typical furniture manufacturing firm’s demand for labor curve inversely related to the wage rate it has to pay for labor?
What will be an ideal response?
The value of the marginal product of capital can be calculated as the marginal product of capital multiplied by the cost of the capital input
a. True b. False Indicate whether the statement is true or false