The inflation rate measures the percentage growth rate of:
A. Real GDP from the base period 1982-84 to a given year
B. Real GDP from one year to the next
C. The CPI from the base period 1982-84 to a given year
D. The CPI from one year to the next
D. The CPI from one year to the next
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For a person earning $75,000, the marginal tax amount from 10,001 to $15,000 is:
A. $500
B. $750
C. $1,750
D. $2,000
The term "fiscal policy" refers to
A. the use of tax changes to make the distribution of personal income more equitable. B. changes in the levels of government spending and taxation for the purpose of stabilizing the economy. C. changes in the level of government spending. D. the use of taxes and transfer payments to make the distribution of after-tax income more equitable.
A local video store estimates its average customer's demand per year is Q = 7 ? 2P, and it knows the marginal cost of each rental is $0.5. How much should the store charge for an annual membership in order to extract the entire consumer surplus via an optimal two-part pricing strategy?
A. $9 B. $10 C. $12 D. $11
Total product will start to decrease
A. when marginal physical product becomes negative. B. when marginal physical product increases. C. when average physical product decreases. D. at the quantity where the law of diminishing returns starts.