In 2017, the median income for a household of four was about
A. $50,000
B. $60,000
C. $80,000
D. $100,000
Answer: B
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Which of the following is an example of an intermediate-term debt?
A) a fifteen-year mortgage B) a sixty-month car loan C) a six-month loan from a finance company D) a thirty-year U.S. Treasury bond
The fact that individuals substitute away from a taxed activity creates _____
a. the excess burden of taxation b. the welfare cost of taxation c. deadweight loss of taxation d. all of the above e. a and b
Why is the monopoly total welfare lower than the competitive total welfare?
What will be an ideal response?
Suppose the production of long-distance airline flights is described by a fixed proportion production process in which three crew members (i.e., labor) are required for each aircraft (i.e., capital)
If the airline operates with four crew members per plane, then we know that: A) the production process violates diminishing margin returns. B) production at this point is technically inefficient. C) the isoquants for this production process are upward sloping. D) the airline will have negative profits.