The total amount of tax you pay divided by your total income is the
A. total tax rate.
B. proportional tax rate.
C. marginal tax rate.
D. average tax rate.
Answer: D
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When the federal funds rate is below the target rate, the Fed will _____ bonds. This action will _____ the money supply
Fill in the blank(s) with correct word
In the graph shown, an upward shift in the WAS curve:
A. lowers the trade deficit, because domestic producers are more competitive. B. raises domestic consumption, because domestic producers will produce more. C. lowers domestic production, because domestic consumption has fallen. D. raises globalized potential output, because U.S. producers are less competitive.
Price elasticity of demand refers to
A. How responsive producers are to a change in the cost of production. B. How buyers react to a change in the price of a substitute good. C. How buyers respond to a change in income. D. How sensitive buyers are to a change in price.
The downward rigidity of wages as an explanation for the existence of unemployment is known as
A. crashing wages. B. sticky wages. C. locked wages. D. minimum wages.