If the tax cost of this proposed project is $600 per person, a majority vote will:
Answer the question on the basis of this table showing the marginal benefit that a particular public project will provide to each of the three members of a community. No vote trading is allowed.
A. defeat this project and resources will be underallocated to it.
B. defeat this project and resources will be allocated efficiently.
C. pass this project and resources will be overallocated to it.
D. defeat this project and resources will be overallocated to it.
A. defeat this project and resources will be underallocated to it.
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The bank lending channel
A) emphasizes the role of interest rates in the money supply process. B) emphasizes the importance of borrowers' net worth to the decision of lenders to grant loans. C) emphasizes the behavior of bank-dependent borrowers. D) is another name for the interest rate channel.
Refer to the above figure. Demand will be elastic when quantity is between
A) 0 and A. B) 0 and B. C) A and B. D) B and C.
The one exception to the rule that you are not getting ripped off if you pay a very high price for a good or service is if there is ____________.
Fill in the blank(s) with the appropriate word(s).
If your income is $40,000 and your income tax liability is $5,000 . your
a. marginal tax rate is 8 percent. b. average tax rate is 8 percent. c. marginal tax rate is 12.5 percent. d. average tax rate is 12.5 percent.