Which of the following statements is most correct?
A. If the U.S. $ is depreciating relative to the euro it is likely depreciating relative to all currencies.
B. If the U.S. $ is appreciating relative to the euro, the euro is likely depreciating relative to the yen.
C. If the U.S. $ depreciates relative to the yen, then it is likely also depreciating relative to the euro.
D. If the U.S. $ is appreciating relative to the yen, the yen is depreciating relative to the U.S. $.
Answer: D
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Based on information provided in the textbook, which of the following statements is true regarding taxing millionaires and the budget deficit in 2012?
A) If the government had taxed all income earners who earned more than $1 million a 100 percent income tax rate, the budget deficit would have been completely eliminated, and a budget surplus would have been incurred. B) If the government had taxed all income earners who earned more than $1 million a 50 percent income tax rate, the budget deficit would have been completely eliminated. C) If the government had taxed all income earners who earned more than $1 million a 100 percent income tax rate, the budget deficit would have fallen but not been completely eliminated. D) If the government had taxed all income earners who earned more than $1 million a 100 percent income tax rate, the budget would have been balanced.
Amy became a tour guide at a national park and was paid $20 per hour to conduct four two-hour tours per day. Each tour generated $400 in revenues for the park. Which of the following shows the marginal resource cost associated with Amy’s labor?
a. $20 hourly rate b. $360 profit per tour c. $1600 revenues per day d. $800 wages per week
Suppose that a specific tax of $3 is imposed on consumers of bread. The bread market supply is Qs = 10 + 0.5P and the bread market demand is Qd = 100-P. What is the consumers' tax burden?
A) Consumers' tax burden is $1.30. B) Consumers' tax burden is $1.00. C) Consumers' tax burden is $1.50. D) Consumers' tax burden is $0.30
What fiscal policy actions did the U.S. government take in 2008 and 2009?
What will be an ideal response?