Which of the following estimates how quickly an economy grows?
a. An isoquant curve
b. An aggregate production function
c. The rule of 70
d. The rule of law
c
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The U.S. market for locomotives is divided between two producers; General Electric has 70 percent of the market and General Motors has 30 percent. This market is an example of
a. a bilateral monopoly b. monopolistic competition c. a collusive monopoly d. a duopoly e. a cartel
A bond with a high yield
a. gives investors a high return on their investments. b. gives investors a low return on their investments. c. sells for a high price. d. sells for a low price.
In 2001, the first year of the Bush administration, Americans learned that recessions were a thing of the past
a. True b. False Indicate whether the statement is true or false
Assume that the marginal tax rate is 10 percent for the first $10,000 of income, 20 percent for income between $10,000 and $40,000, and 30 percent for any income over $40,000. If Jerome has taxable income equal to $60,000 for the year, what is his tax bill?
A. $6,000. B. $13,000. C. $18,000. D. $15,000.