For a person earning $75,000, the marginal tax rate for the amount from 10,001 to $15,000 is:
A. 10%
B. 15%
C. 25%
D. 27.5%
C. 25%
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You have five hours left to study for two exams tomorrow. The relationship between hours of study and test scores is as follows: Economics Hours Score150265375480585 Sociology HoursScore17528539049355Use the rule for determining optimal purchases to allocate your time, where each point is one “util” of utility.
What will be an ideal response?
At Christmastime, individuals choose to hold more cash and fewer deposits to facilitate their Christmas shopping. This condition will
A) increase the money supply, for people will be spending more money. B) have no effect on the money supply because people are just exchanging one form of money (deposits) for another form (cash). C) reduce the money supply because there will be a drain of reserves out of the banks. D) reduce the money supply, for all that cash is spent on Christmas presents.
Describe the pressures that discourage trade.
What will be an ideal response?
Exhibit 6-7 Marginal utility for sandwiches and sodas Quantity Sandwiches Sodas 1 10 5 2 8 4 3 6 3 4 3 1 5 ?1 0 Refer to Exhibit 6-7. If the price of a sandwich is $1 and the price of a soda is $1, Marian should spend her first dollar on a ____ and her second dollar on a ____.
A. sandwich; soda B. sandwich; sandwich C. soda; sandwich D. soda; soda