The marginal tax rate shows
A) the percentage of income which a typical family pays in tax.
B) the average rate of taxation in the economy.
C) the deductions which are permitted for child care and medical expenses.
D) the extra tax due on an extra dollar of income.
D
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Limits on the flow of foreign exchange and financial investment across countries are called
A) currency restrictions. B) credit constraints. C) fixed exchange rates. D) capital controls.
The price elastic portion of the linear demand curve lies
a. b and c b. above the point of unit elasticity c. anywhere to the left of current market prices d. below the point where total revenue is maximized e. at the intersection with the supply curve
Other things constant, an increase in resource prices will
a. increase aggregate demand. b. decrease aggregate demand. c. decrease short-run aggregate supply. d. increase short-run aggregate supply.
If a good is a normal good, an increase in income will
A) decrease the quantity demanded of the good. B) increase the demand for the good. C) cause the demand curve for the good to shift to the left. D) cause a movement down along the demand curve.