The level of the capital-labor ratio that maximizes consumption per worker in the steady state is known as the
A. dynamically efficient capital-labor ratio.
B. Solow residual capital-labor ratio.
C. Golden Rule capital-labor ratio.
D. q theory capital-labor ratio.
Answer: C
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The following data represent a personal income tax schedule. Answer the next question on the basis of this information.Taxable IncomeTotal Tax$15,000$1,50030,0003,50060,0009,000120,00025,000The average tax rate at the $60,000 level of income is
A. 20.8%. B. 11.6%. C. 10.0%. D. 15.0%.
Which of the following statements is CORRECT?
I. The exchange rate is a price. II. The exchange rate is different from other prices because it is NOT determined by supply and demand. A) only I B) only II C) I and II D) neither I nor II
In a system of 100-percent-reserve banking,
a. banks do not make loans. b. currency is the only form of money. c. deposits are banks' only assets. d. All of the above are correct.
If the number of people classified as unemployed is 10,000 and the number of people classified as employed is 300,000, what is the unemployment rate?
A. 3.2% B. 3.0% C. 2.4% D. 1.5%