If the price of a Swiss franc is $0.60, the price of a dollar is __________ Swiss francs
A) 0.40
B) 1.40
C) 1.67
D) 6.0
C
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What is the difference between a marginal tax rate and an average tax rate? Which is more important in determining the impact of the tax system on economic behavior?
What will be an ideal response?
The introduction of steamboats:
a. led to dramatic declines in the price of upstream transport. b. led to moderate declines in the price of downstream transport. c. is the primary reason for falling transportation costs in the early 1800s. d. led to an initial decrease in transport costs that continued to fall due to learning by doing and the construction of lighter boats with increased capacity. e. All of the above.
In general, as wages increase:
A. people are willing to work less. B. people are willing to work more. C. it does not affect people's willingness to work. D. the benefit of working goes down.
When economists talk about growth in the economy, they measure that growth as the
a. absolute change in nominal GDP from one period to another. b. percentage change in nominal GDP from one period to another. c. absolute change in real GDP from one period to another. d. percentage change in real GDP from one period to another.