Which is not true of current U.S. payroll taxes?
A. They are used to fund Social Security.
B. They account for about 35 percent of federal revenues.
C. They are proportional taxes because there is only one listed tax rate.
D. They are levied on wages and salaries but not investment income.
Answer: C
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A competitive equilibrium is described by
A) a price only. B) a quantity only. C) the excess supply minus the excess demand. D) a price and a quantity.
The manager of a large luxury hotel chain is currently negotiating a four year contract with a linens supplier. The linens company will supply fresh laundered bedding and towels to the hotel over a four year period; however, the hotel chain can ends its contract with the linens company at the end of the first, second, or third years if the linens company does not supply quality linens. What can
the manager of the hotel chain do to avoid the end-game problem? A) Pay the linens company in full at the beginning of the first year. B) Pay the linens company one half of the contract amount after the first year and the remaining half after the second year. C) Pay the linens company in full after the first year. D) Offer to renew the contract if the linens company provides quality linens all four years.
If producers support proposed regulation of their industry, then
a. it is likely that consumers will benefit from the regulation b. it is likely that producers are looking out for the interests of the consumers c. it is likely that both producers and consumers will be adversely affected by the legislation d. it is possible that consumers will be adversely affected by the legislation e. it is likely that prices will fall
Suppose 40 percent of all potential workers are highly skilled and contribute $50,000 to the firm each year. The remaining 60 percent of potential workers are less-skilled and contribute only $30,000 to the firm each year. Schooling costs a highly skilled worker y per year, while it costs a less-skilled worker 2y per year. What range of y will support a signaling equilibrium?
A. $0 < y < $50,000 B. $5,000 < y < $20,000 C. $10,000 < y < $20,000 D. $5,000 < y < $10,000 E. $20,000 < y < $50,000