All of the following are considered natural resources except:
A. a coral reef.
B. gold.
C. labor.
D. a redwood forest.
Answer: C
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Refer to Scenario 10.1. The price of her product will be ________
A) 4 B) 22 C) 32 D) 42 E) 72
What is the percentage of income received by the lower three quintiles on line K?
If a tax system is progressive, then
A) the average and the marginal tax rates are equal. B) the marginal tax rate is greater than the average tax rate as income rises. C) the marginal tax rate is lower than the average tax rate as income rises. D) the average tax rate is constant, but the dollar amount paid in taxes increases as income increases.
In the Keynesian model in the long run, an increase in the money supply will raise
A. the price level but not the level of output. B. the level of output but not the price level. C. neither the level of output nor the price level. D. both the level of output and the price level.