The largest expenditure component of GDP is:
A. net exports.
B. investment.
C. consumption.
D. government spending.
Answer: C
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The following data represent a personal income tax schedule. Answer the next question on the basis of this information.Taxable IncomeTotal Tax$15,000$1,50030,0003,50060,0009,000120,00025,000As income increases, the average tax rate
A. decreases. B. increases. C. remains constant. D. has no definite pattern.
Tracy quits her job, which pays $25,000 a year, to finish her college degree. Her annual college expenses are $12,000 for tuition and fees and $1,000 for books. What is her opportunity cost of attending college for the year?
According to Figure 5.4, how many slices of pizza will one pizzeria be willing to supply at a market price of $1.50 a slice?
(A) 2,000 (B) 300 (C) 200 (D) 100
Suppose Canadian winemakers convince the federal government to issue a directive to serve only
domestically produced wine at government functions This would be an example of: A) the principal-agent problem. B) moral hazard. C)rent'-seeking behavior. D) logrolling.