A person's marginal tax rate equals
a. her tax obligation divided by her average tax rate.
b. the increase in taxes she would pay as a percentage of the rise in her income.
c. her tax obligation divided by her income.
d. the increase in taxes if her average tax rate were to rise by 1percent.
b
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Use the data in the above table and suppose that labor is the only variable factor of production. At what level of output does the marginal cost start to rise at Decent Donuts?
A) 0 dozen donuts B) 111 dozen donuts C) 128 dozen donuts D) There is not enough information given to determine when the marginal cost starts to increase.
Suppose that Rockport Shoes planned to produce and sell $200 million of shoes in 2003, but by year's end was able to sell only $180 million. The remaining unsold $20 million would be recorded as
a. personal consumption expenditures b. a business loss c. an addition to business inventory d. an increase in disposable income e. a part of the underground economy
Suppose that someone makes the argument that because empty alcohol containers are found at many accidents, the containers cause accidents. This would be an example of
a. sound logic. b. reverse causality. c. omitted variables. d. bias.
Which of the following is not part of the Federal Reserve System?
A. Council of Economic Advisors B. Board of Governors C. Federal Open Market Committee D. 12 Federal Reserve District Banks