When overall production is taken into account, trade restrictions, such as those enacted by the Smoot-Hawley trade bill,
A) save good paying jobs.
B) reduce imports, without affecting the volume of exports.
C) increase employment in the domestic industries that are most productive.
D) neither create nor destroy jobs; they
D) neither create nor destroy jobs; they
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Which of the following is true of the U.S. government?
a. The government in the United States takes the form of a single-party state where opposition parties are not legally allowed to take power. b. The size of the federal government in the U.S. has been declining since 1930. c. Employment in the government sector currently exceeds employment in the manufacturing sector. d. The U.S. federal government plays a much smaller role than state and local government due to states' rights. e. The service sector of the U.S. economy employs more number of people than the U.S. government.
Dr. Rand earns $420,000 per year. He is charged a 20% tax on the first $100,000 he earns. He is charged a 30% tax for any income he earns between $100,000 and $250,000, and he is charged a 38% tax on anything he earns over $250,000. How do we find his marginal tax rate?
a. Add 20% of $100,000, 30% of $150,000, and 38% of $170,000, and then divide the total by $420,000. b. Look at the percentage rate he would pay on his last dollar of income, which is 38%. c. Look at the percentage rate he would pay on $1, which is 20%. d. Add 20%, 30%, and 38%, divide by three, and multiply that amount times $420,000.
If two firms pollute, and the increase in costs to Firm A from decreasing pollution is equal to the decrease in costs to Firm B from increasing pollution:
A. the firms cannot benefit from trading the right to pollute. B. the firms can benefit by trading the right to pollute. C. while both firms can benefit from trading, there is no way for them to determine an agreeable price. D. both firms will stop polluting.
A market structure in which the decisions of individual buyers and sellers have no effect on market price is
A. oligopoly. B. perfect competition. C. monopoly. D. monopolistic competition.