The above figure shows the market demand curve for telecommunication while driving one's car (time spent on the car phone). If the price were $2.50, consumer surplus equals
A) $301.00.
B) $924.50.
C) $1,225.50.
D) $0
D
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Katie had a before-tax income of $40,000 and paid taxes of $6,000 . Rinji had a before-tax income of $35,000 and paid taxes of $5,250 . Based on this information, the tax system is
a. There is insufficient information to answer the question. b. progressive c. based on the benefits received d. regressive e. proportional
When a low-income nation improves its institutions, so that growth results, one reason the growth may be more rapid than would result from a similar improvement in a developed nation that brings the same amount of added capital per worker to each nation, is that
a. adding capital has constant returns to scale, rather than diminishing returns, in each nation. b. with diminishing returns to scale, and with richer nations starting with more capital per unit labor, the added capital produces smaller increments to production in the higher-income nations. c. wage rates are lower in the low-income nation, and lower-income workers are more productive. d. capital is always more productive in lower-income nations.
Who of the following would be included in the Bureau of Labor Statistics' "unemployed" category?
a. Miguel, who is on temporary layoff b. Reta, who worked only 15 hours last week c. Marisa, who neither has a job nor is looking for one d. None of the above is correct.
A decrease in confidence will immediately shift
A. aggregate supply to the right. B. aggregate demand to the right. C. aggregate supply to the left. D. aggregate demand to the left.