In the figure above, the tax wedge is equal ________ per hour, the after-tax real wage rate is equal to ________, and the before-tax real wage rate is equal to ________
A) $20; $30; $35 B) $15; $20; $35 C) $20; $30; $20 D) $10; $30; $30 E) $30; $20; $35
B
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In the United States, which factor of production earns the largest share of the nation's total income?
What will be an ideal response?
A decrease in the price of ice cream is likely to cause:
A. an increase in the demand for ice cream cones due to a change in the price of a complementary good. B. an increase in the demand for ice cream cones due to a change in the preferences of consumers. C. an increase in the demand for ice cream cones due to a change in the price of a substitute good. D. a decrease in the demand for ice cream cones due to a change in the price of a related good.
Assume that the economy is in a recession and there is a budget deficit. A strict balanced-budget rule that would require the Federal government to balance its budget during a recession would be:
A. Expansionary and worsen the effects of the recession B. Contractionary and worsen the effects of the recession C. Contractionary and counter the effects of the recession D. Expansionary and counter the effects of the recession
Subtracting government investment from government purchases gives us the amount of government
A) outlays. B) primary expenditures. C) secondary spending. D) consumption expenditures.