From the time of Benjamin Franklin to the present, the percentage of the average American's income that goes to pay taxes has
a. decreased from about 20 percent to about 10 percent.
b. remained constant at about 10 percent.
c. has risen from less than 2 percent to about 33.3 percent.
d. has risen from less than 5 percent to about 25 percent.
d
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Consider the demand curves for soft drinks shown in the figure above. A movement from point a to point b represents
A) a decrease in quantity demanded. B) an increase in demand. C) an increase in quantity demanded. D) a decrease in demand.
The above table gives the demand and supply schedules for cat food. If the price is $1
00 per pound of cat food, will there be a shortage, a surplus, or is this price the equilibrium price? If there is a shortage, how much is the shortage? If there is a surplus, how much is the surplus? If $3.00 is the equilibrium price, what is the equilibrium quantity?
One result of the Uruguay Round was the formation of an organization known as the ________, which is responsible for setting trade rules and settling trade disputes between members
A) World Commercial Council (WCC) B) World Trade Organization (WTO) C) International Trade Organization (ITO) D) United World Trade Council (UWTC)
Assume that a one-year Malaysian bond yields 10 percent interest and that the dollar return on maturity is 5 percent. If the exchange rate at maturity is $1 = MYR 4.00 (Malaysian ringgit), what was the exchange rate at the time the bond was purchased?
a. $1 = MYR 4.2 b. $1 = MYR 3.8 c. $1 = MYR 3.6 d. MYR 1 = $0.26 e. MYR 1 = $0.4