Output per employed worker is called:
A. average labor productivity.
B. output per person.
C. average standard of living.
D. total output.
Answer: A
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All charitable donations in Richland are tax-deductible. However, it was found that the volume of charitable contributions declined significantly when the income tax rate in Richland was lowered
What is the reason behind such an outcome? Explain with an example.
Katy has an ailing and wealthy, but miserly, parent. The parent has told Katy that if she takes care of him until he dies, then she will get $100,000 in inheritance
Katy knows that there is only a 50-50 chance that her father will leave her the full amount or nothing. To take care of her father, she has to take a job that pays $30,000 where her current job pays her $70,000 per year. If her father is expected to pass away in 1 year, what is Katy's expected wealth if she takes care of her father? A) $130,000 B) $90,000 C) $80,000 D) $70,000
In the market for reserves, if the federal funds rate is between the discount rate and the interest rate paid on excess reserves, an increase in the reserve requirement ________ the demand of reserves and causes the federal funds interest rate to
________, everything else held constant. A) decreases; fall B) increases; fall C) increases; rise D) decreases; rise
If the slope of the budget line is steeper than the slope of the indifference curve, and X is on the horizontal axis:
A. the consumer is willing to give up more of good X to get an additional unit of good Y than is necessary under the current market prices. B. MRS = ?PX/PY. C. MRS > PX/PY. D. the consumer is willing to give up more of good Y to get an additional unit of good X than is necessary under the current market prices.