In the 1950s the top marginal federal personal income tax rate was
A. 91%.
B. 70%.
C. 50%.
D. 31%.
A. 91%.
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In the above figure, the relationship between income and expenditures is
A) positive. B) negative. C) independent. D) random.
Channeling funds from individuals with surplus funds to those desiring funds when the saver does not purchase the borrower's security is known as
A) barter. B) redistribution. C) financial intermediation. D) taxation.
Compare and contrast the potential for a perfectly competitive firm and a monopolistically competitive firm to earn positive economic profits in the short run versus the long run. Explain your reasoning
What will be an ideal response?
Factors of production are:
A) the resources the economy has available to produce goods and services. B) generally unlimited in modern economies. C) always employed in modern economies. D) the knowledge that can be applied to the production of goods and services.