The individual income tax, the inheritance tax, and the head tax are all examples of direct taxes
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to the figure above. If there is downward wage rigidity in the market, what is the wage rate at which wages will be held, everything else remaining unchanged?
A) $25 B) $10 C) $30 D) $15
Both a defendant and plaintiff believe there is a 30 percent chance that the plaintiff will win $150,000 and a 70 percent chance that the plaintiff will lose and be awarded nothing (zero). If the plaintiff's litigation cost is $30,000 and the defendant's litigation cost is $40,000, the defendant would be willing to pay any amount up to ________ to settle and the plaintiff would be willing to
accept any amount greater than ________ to settle. A) $80,000; $20,000 B) $20,000; $80,000 C) $85,000; $15,000 D) $15,000; $85,000
How long is the long run?
A. A defined, set period of time, usually a year B. However long it would take a firm to vary all of its costs C. However long it would take a firm to have at least one variable cost D. None of these defines the long run.
In surveying their alumni, State U's economics department discovered that ramen noodle consumption declined once students graduated and found jobs. One conclusion the survey team might draw from this result is that:
A. ramen noodles are an inferior good. B. college graduates have a high reservation price for ramen noodles. C. there is excess demand for ramen noodles. D. the equilibrium price for ramen noodles is too high.