Exhibit 16-4 Marginal tax rate lines
?
In Exhibit 16-4, line C represents a(n):
A. regressive tax.
B. progressive tax.
C. proportional tax.
D. ability-to-pay tax.
Answer: C
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In a community where poor people do not associate with members of the opposite sex until they are 21 years old, the cost of hiring a babysitter on weekends will be
A) higher than in other communities. B) lower than in other communities. C) prohibitive. D) zero.
If the price elasticity of supply is equal to infinity and the price was to fall, the quantity supplied would:
A. decrease slightly. B. fall to zero. C. not change. D. increase.
The IS curve would unambiguously shift up and to the right if there were
A. an increase in both government purchases and the expected future marginal product of capital. B. an increase in both government purchases and corporate taxes. C. an increase in the expected future marginal product of capital and a decrease in expected future output. D. a decrease in both corporate taxes and the expected future marginal product of capital.
The above table shows some cost data for Tracey's Tents. What is the marginal cost of the 3rd tent?
A) $25 B) $20 C) $70 D) $120