Consider two people, Sandy Roos, who earns $25,000 . and Gary Behrman, who earns $50,000 . If the government has decided to tax everyone's first $25,000 at 20 percent and everyone's second $25,000 at 40 percent, then
a. Gary and Sandy both pay taxes of the same percentage of total income
b. Gary and Sandy pay the same amount of taxes
c. Gary pays twice the tax amount Sandy pays
d. Gary pays three times the tax amount Sandy pays
e. Sandy does not pay taxes
D
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If the United States and other developed nations pay the cost of reducing public emissions, developing nations such as China could benefit from the reduction while not contributing to it In this sense, one can think of reducing carbon emissions as being like a
A) quasi-private good. B) private good. C) quasi-public good. D) public good.
When there is an excess quantity supplied in the market
A) the price of the product will increase, causing a decrease in demand and an increase in supply. B) the price of the product will increase, causing a decrease in quantity demanded and an increase in supply. C) the price of the product will decrease, causing an increase in quantity demanded and a decrease in quantity supplied. D) the price will increase, causing a decrease in demand and an increase in quantity supplied.
The seven members of the Board of Governors serve 14-year terms to:
A. reduce political influence. B. provide steady employment. C. inhibit independent decisions. D. prevent illegal appointments.
A stock option is said to be "out of the money" if:
A) the strike price equals the exercise price. B) stock price equals the strike price. C) strike price exceeds the stock price. D) stock price exceeds the strike price.