The total amount of taxes paid divided by before-tax income is the
A) median taxpayer rate.
B) rate of hysteresis.
C) average tax rate.
D) marginal tax rate.
C
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Suppose Bev's Bags makes large handbags and small handbags. They sold 70,000 large bags for $45 each and 25,000 small bags for $15 each. If the company had total costs of $2,000,000, what was the profit for this company?
A. $375,000 B. $3,525,000 C. $1,525,000 D. $850,000
IPods and headphones are examples of which of the following?
a. Substitutes b. Inferior Goods c. Complements d. None of the above
If an explanatory variable is strictly exogenous it implies that:
A. changes in the lag of the variable does not affect future values of the dependent variable. B. the variable is correlated with the error term in all future time periods. C. the variable cannot react to what has happened to the dependent variable in the past. D. the conditional mean of the error term given the variable is zero.
Refer to the above figures. A tariff is placed on a foreign good. Which figure represents the situation in the domestic market for the foreign good?
A. Panel A B. Panel B C. Panel C D. Panel D