Suppose a poverty program has a basic benefit of $10,000, and a family can earn up to $20,000 before losing all welfare benefits. The marginal tax rate is ________ percent.
A. 0.5
B. 2.0
C. 0.2
D. 0.10
Answer: A
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A bridge built by the government of Ritzland collapsed in the same year it was constructed. If the total cost of building the bridge was $4 million, which of the following will happen as a result of its collapse?
A) Ritzland's GDP will decrease. B) Ritzland's GDP will remain unchanged. C) Ritzland's trade surplus will increase. D) Ritzland's trade deficit will increase.
The equilibrium wage and quantity of labor in the market for skilled workers is determined by
A) the demand and supply of labor. B) the strength of labor unions. C) the market value created by the output of these skilled workers. D) the monopsony power of firms.
The city of Hope has a labor force of 1000. Twenty people lose their jobs each month and remain unemployed for exactly one month before finding jobs
On January 1, May 1, and September 1 of each year, 50 people lose their jobs for a period of four months before finding new jobs. What is the unemployment rate in any given month? A) 2% B) 3% C) 5% D) 7%
Which of the following could best be categorized as a public good?
A) an apartment in a public housing project B) a pumpkin pie C) public fireworks D) a race track