If the marginal tax rate is equal to the average tax rate as taxable income increases, the tax structure is
A) proportional. B) unfair. C) progressive. D) regressive.
A
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An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
The phantom unemployed are
A. People who lack the skills to be employed. B. People who want a job but aren't looking because they don't expect to find one. C. People who report that they are actively seeking a job even when they have little or no intention of finding one. D. Workers with very high rates of absenteeism.
If diminishing marginal returns have already set in for Danica's Dog Training Emporium and the marginal product of the fifth dog trainer is 18, then the marginal product of the fourth dog trainer must be
A. less than 18. B. negative. C. zero. D. greater than 18.
In Figure 20.1, the increase in Real GDP might reflect 
A. reduced government spending. B. reduced worker productivity. C. increased consumer confidence about future job security. D. a stronger currency.