An increase in the excise tax imposed upon consumers of gasoline
A. increases the supply of gasoline.
B. decreases the demand for gasoline.
C. increases the demand for gasoline.
D. lowers the market price of gasoline.
Answer: B
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All else equal, if job turnover has people leaving jobs and finding new jobs in the same industry, this will
A) decrease the supply of labor, but not change the demand for labor. B) increase the demand for labor and the supply of labor. C) increase the demand for labor and decrease the supply of labor. D) not change demand or supply in the labor market.
What is the most compelling evidence for the Keynesian interpretation of the Great Depression?
a. Increases in both the interest rate and the quantity of money b. Decreases in both the interest rate and the quantity of money c. An increase in the interest rate and a decrease in the quantity of money d. A decrease in the interest rate and an increase in the quantity of money
For a monopolist,
a. marginal revenue and price are constant as quantity increases b. marginal revenue falls but price is constant as quantity increases c. marginal revenue is constant but price falls as quantity increases d. both marginal revenue and price fall as quantity increases, but price falls faster e. both marginal revenue and price fall as quantity increases, but marginal revenue falls faster
Compute the tax rates for the three taxpayers shown in Table 33.1. Then use the table to answer the indicated question. TaxpayerIncome (Dollars)Taxable Income (Dollars)Taxes Paid (Dollars)Effective Tax Rate(Percent)Nominal Tax Rate(Percent)1$200,000$100,000$6,000________%________%2100,00080,0008,000________%________%360,00048,00012,000________%________%In Table 33.1, the nominal tax rate for taxpayer 3 is
A. 20.0 percent. B. 5.0 percent. C. 12.5 percent. D. 25.0 percent.