The majority of blacks were shipped from West Africa, but some also came from Madagascar and Zanzibar
Indicate whether the statement is true or false
True
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Suppose the tax amount on the first $10,000 income is $0; $2000 on the next $20,000; $4000 on the next $20,000; $6000 on the next $30,000; and 40 percent on any income over $80,000. Family A has income of $30,000 and Family B has income of $80,000 What is the marginal and average tax rate for each family?
A) Family A: marginal—10 percent; average—6.7 percent; Family B: marginal—30 percent; average—15 percent. B) Family A: marginal—10 percent; average—20 percent; Family B: marginal—30 percent; average—23 percent. C) Family A: marginal—10 percent; average—10 percent; Family B: marginal—40 percent; average—40 percent. D) Family A: marginal—10 percent; average—15 percent; Family B: marginal—40 percent; average—20 percent.
Which of the following statements concerning economic models is FALSE?
A) Economic models must provide usable predictions. B) Economic models are based on pure fact and no assumptions. C) Economic models are tested empirically. D) Economic models relate to how people behave.
According to Marx, reason(s) for the inevitable collapse of capitalism is (are)
a. under production b. a lower capita labor ratio c. rising profits d. class conflict e. increasing surplus value
Which of the following describes the relationship between the marginal product of labor and marginal costs?
a. Marginal product and marginal costs rise and fall in sync. b. When marginal product is rising, marginal costs are falling. c. Marginal costs must be known to figure marginal product. d. Marginal product equals change in marginal cost divided by output.