Industrialization in advanced economies suggests that rising productivity is responsible for
(a) a drop in the number of laborers employed in the primary sector.
(b) a smaller percentage of the total labor force working in the secondary sector.
(c) a significant rise in the number of people working in the tertiary sector.
(d) all of the above.
(d)
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Suppose the income tax rate is 0 percent on the first $10,000; 10 percent on the next $20,000; 20 percent on the next $20,000; 30 percent on the next $20,000; and 40 percent on all income above $70,000
Family A has income of $82,000 while Family B has income of $37,000. What are the marginal tax rates faced by the two families?
Which of the following could create a cost advantage for a? monopoly?
A) better technology B) lower friction due to better organization C) standardization D) All of the above
Which of the following statements is true?
a. The quantity of natural resources per worker can influence productivity. b. Technological knowledge and human capital are closely related. c. Over long periods of time, the prices of most natural resources are stable or falling, relative to other prices. d. All of the above are correct.
A ______ tax would charge the same percentage to people, regardless of income level.
a. proportional b. progressive c. regressive d. marginal