The Medicare tax is applied only to the first $87,000 of income
a. True b. False
b
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The marginal revenue product curve is:
a. c and d are correct. b. c and e are correct. c. given by the marginal product curve multiplied by the price of the good. d. the marginal contribution of an additional worker to firm's revenues. e. the change in total cost that results from employing an additional worker.
Suppose the United States reduced the tariff on a major imported item. Under a system of flexible rates of exchange, this would tend to
a. cause the dollar to appreciate. b. cause the dollar to depreciate. c. decrease the U.S. balance of trade deficit. d. increase the current account surplus.
When there is a change in the quantity demanded it means that:
A. the hours the customer can buy products each day have increased. B. the number of products in inventory have increased. C. the quantity a consumer is willing to buy changes when the price changes. D. the selling price of the products has not changed.
The type of advertising that is used to induce a consumer to discover a previously unknown taste for an item is known as
A) informational advertising. B) persuasive advertising. C) false advertising. D) experience advertising.