The resources that a taxpayer devotes to complying with the tax laws are a type of
a. marginal tax.
b. administrative burden.
c. deadweight loss.
d. Both b and c are correct.
d
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The interest rate will fall when the
A. quantity of money demanded exceeds the quantity of money supplied. B. quantity of money supplied exceeds the quantity of money demanded. C. supply of money decreases. D. demand for money increases.
For country A, an import is a good produced in
A) country A and purchased by residents of country B. B) country A and purchased by residents of country A. C) country B and purchased by residents of country A. D) country B and purchased by residents of country B.
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed cost of $25,000, average variable cost for 1,000 service calls is $45, and marginal revenue is $75. Juan's makes 1,000 service calls a month
What is his economic profit? A) $5,000 B) $25,000 C) $45,000 D) $75,000 E) $50,000
In order to determine if the quantity of goods and services that an hour's work can buy has increased or decreased between 2000 and 2012, one should compare the
A) 2000 nominal wage with the 2012 nominal wage. B) 2000 real wage with the 2012 nominal wage. C) 2000 real wage with the 2012 real wage. D) 2000 nominal wage with the 2012 real wage. E) 2000 nominal wage with the 2012 nominal wage and the 2000 real wage with the 2012 real wage because both are important factors determining if workers can buy more or fewer goods with an hour's work.