The highest personal income tax bracket in 1992 was _____ percent.
Fill in the blank(s) with the appropriate word(s).
31
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The average propensity to consume is
A) real consumption expenditures divided by real saving. B) real saving divided by real consumption expenditures. C) real consumption expenditures divided by real disposable income. D) real disposable income divided by real consumption expenditures.
Which of the following is one reason why the income of small family farms has decreased over time?
A) The demand for farm products is price elastic. B) The U.S. population has increased greatly since 1950. C) The demand for farm products is income inelastic. D) Technology has increased farm productivity and market supply.
Piece rate pay is
a. Compensation per dollar of profit of the company b. Compensation per dollar of profit of the division c. Compensation per piece a worker produces d. Compensation per dollar of sales
The aggregate demand curve:
a. shows the level of real GDP purchased in the economy at different possible price levels during a period of time. b. shows the level of real GDP produced in the economy at different possible price levels during a period of time. c. shifts to the left whenever there is an increase in aggregate expenditures. d. slopes upward.