With a tax of $4,000 on $20,000 of income and $6,000 on $30,000 of income, the average tax rate is:
A. Constant at 10 percent
B. Lower than the marginal tax rate
C. Equal to the marginal tax rate
D. Higher than the marginal tax rate, which is equal to zero?
C. Equal to the marginal tax rate
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Convergence of the income gap has been most dramatic between
A) Hong Kong and the United States. B) the Central European countries and the United States. C) Africa and the United States. D) South America and the United States.
A weak U.S. dollar is one that has:
a. c and e. b. d and e. c. depreciated. d. appreciated. e. helped U.S. exporters.
In the United States, antitrust law focuses primarily on all of the following except which one?
A) consumer welfare B) the means to monopolize a market C) furthering the social interest D) efficiency
What is the "store of value" function of money?
a. A common measurement of the relative value of different goods and services. b. The ability of money to hold value over time c. The quality of money not to be hoarded because of its commodity value. d. The function of money to be widely accepted I exchange for goods and services.