During 1960-1980, those with the highest incomes confronted federal marginal tax rates between 70 and 90 percent. Since 1986, the highest federal income tax rate has been less than 40 percent. Since 1986, the share of the personal income tax collected from the top one-half of one percent of earners has been
What will be an ideal response?
Higher than during the 1960s and 1970s
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The figure above shows a perfectly competitive firm. To maximize its profit, the firm will produce ________ units of output and the price will be ________ for a unit
A) 30; $40 B) 30; $30 C) 20; $40 D) 20; $30
Workers at a local construction company are paid $32.50 per hour, and they have incorporated a 4 percent annual raise in their contracts to account for expected inflation
Explain how unexpected inflation of 2 percent will affect the real wages earned by these workers and the unemployment rate of these workers.
Megan, an analyst in Ronald's team called in sick on a day when 4 projects were due for completion. Ronald divided Megan's work between the remaining six team-members. Which form of governance is being used here?
a. Etiquette b. Hierarchy c. Contract d. Market
In Corinthia, the marginal propensity to consume is 0.7, base consumption is $500, the tax rate is 20 percent of income, national income is $3,000 . investment spending is $1,000 . government spending is $1,000 . export earning is $2,000 . and import spending is $500 . When the real GDP of Corinthia is zero, its aggregate expenditure equals _____
a. $4,000 b. $7,500 c. $8,900 d. $10,000