The MFC can be calculated by the
A. total wages/total labor.
B. change in labor/change in total wages.
C. change in total wages/change in labor.
D. total wages/change in labor.
Answer: C
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In Chapter 11, depreciation is assumed to be
A) a fixed proportion of real GDP. B) a fixed proportion of the capital stock. C) a fixed absolute amount. D) zero. E) a fixed proportion of the capital-labor ratio.
There is no deadweight loss from subsidy
a. True b. False Indicate whether the statement is true or false
Suppose a taxpayer has an income of $90,000 and a taxable income of $75,000, and pays $7,500 in taxes. If the taxpayer says he is taxed at a 10 percent tax rate, he is referring to the
A. Marginal tax rate. B. Vertical tax rate. C. Effective tax rate. D. Nominal tax rate.
Externally held debt refers to that part of the national debt owned by private individuals, and internally held debt refers to that part owned by government agencies.
Answer the following statement true (T) or false (F)