If Jayla's tax liability increases from $10,000 to $16,000 when her income increases from $30,000 to $40,000, her marginal tax rate is
a. 33 percent.
b. 35 percent.
c. 50 percent.
d. 60 percent.
D
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The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
Frictional unemployment increases when
A) real GDP decreases and the unemployment rate rises. B) the number of workers who quit one job to find another increases. C) discouraged workers drop out of the work force. D) workers are replaced by machines and the unemployed workers do not have the skills to perform new jobs.
A price elasticity of demand of 2.3% implies
a. Demand is inelastic b. Demand is elastic c. Demand is unitary elastic d. Demand is perfectly elastic
If a resource is unemployed, it
a. is also underemployed b. is utilized, but not in its most productive employment c. is not utilized d. is not counted as a resource for the economy e. must be a labor resource