The marginal tax rate is
A. the total taxes paid as a percentage of total income.
B. the average tax rate paid by both individuals and corporations.
C. the sum of all individual tax rates.
D. the increase in taxes as a percentage of the increase in income.
Answer: D
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Although finished goods are scarce, the inputs to produce them are not scarce.
Answer the following statement true (T) or false (F)
A perfectly competitive wheat farmer in a constant-cost industry produces 3,000 bushels of wheat at a total cost of $36,000. The prevailing market price is $15. What will happen to the market price of wheat in the long run?
A) The price falls to $12. B) The price rises above $15. C) The price remains constant at $15. D) There is insufficient information to answer the question.
A depreciation of the dollar under perfect capital mobility would cause
a. the LM curve to shift to the left. b. the LM curve to shift to the right. c. the IS curve to shift to the right. d. the IS curve to shift to the left. e. the BP curve to shift up.
Amanda talks with several different brokers at a social gathering. She hears the following advice from brokers A, B, and C. Which broker, if any, gave her incorrect advice?
a. Broker A: "There are risks in holding stocks, even in a highly diversified portfolio.". b. Broker B: "Portfolios with smaller standard deviations have lower risk.". c. Broker C: "Stocks with greater risks offer lower average returns.". d. They all gave her correct advice.