Sue earns income of $80,000 per year. Her average tax rate is 40 percent. Sue paid $4,500 in taxes on the first $30,000 she earned. What was the marginal tax rate on the rest of her income?
a. 15 percent
b. 32 percent
c. 40 percent
d. 55 percent
d
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If grocery stores are able to place their own private label "generic" products wherever they wish, why do some managers deliberately put them on shelves that are hard to get to or difficult to notice?
What will be an ideal response?
The paradox of American farming is
A) food has become cheaper and more abundant as the number of farms has decreased. B) the demand for imported luxury food products has risen as the demand for domestic food products has fallen. C) the demand for food has risen as the number of people who pursue farming as a career has fallen. D) the amount of food produced has increased as the average farm size has fallen.
The effect of licensing requirements for an occupation is to
a. shift the demand curve for the occupation to the left, causing wage rates to fall. b. shift the supply curve for the occupation to the left, causing the wage rate to rise. c. shift the supply curve for the occupation to the right, causing the wage rate to fall. d. shift the demand curve for the occupation to the right, causing the wage rate to rise.
The Heyerdahl index is a measure of:
A. Profitability in an industry B. The price level in an industry C. The costs in an industry D. Market power in an industry