If your taxable income is $50,000, your average tax rate is
A. 8 percent.
B. 12 percent.
C. 16 percent.
D. 20 percent.
C. 16 percent.
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Which of the following is likely to happen if the Fed conducts a contractionary monetary policy?
A) Labor demand will increase. B) The nominal interest rate will decrease. C) The stock of money in the economy will decrease. D) Banks will make more loans.
The above figure shows the demand, marginal revenue, and cost curves for a natural monopoly
a. Which price and quantity is set if the capture theory is correct? b. If production is at the price and quantity specified in part (a), what area represents the economic profit? c. If production is at the price and quantity specified in part (a), what area represents the deadweight loss? d. If production is at the price and quantity specified in part (a), what area represents the consumer surplus?
An official settlements account balance of -$5,000 means
A) official reserves of foreign currency increased by $5,000. B) official reserves of foreign currency decreased by $5,000. C) the country is exporting more than it is importing. D) the country is importing more than it is exporting.
Economists claim that a resale price maintenance agreement is not anti-competitive because
a. suppliers are never able to exercise noncompetitive market power. b. if a supplier has market power, it will be likely to exert that power through wholesale price rather than retail price. c. retail markets are inherently noncompetitive. d. retail cartel agreements cannot increase retail profits.