To calculate GDP in 2000, you would subtract the value of goods exported in 2000
Indicate whether the statement is true or false
F
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When income is $15,000, the amount of income taxes owed is $2,000; when income increases to $20,000, the amount owed increases to $3,000. The average income tax rate when a person earns $15,000 is
A) 75 percent. B) 15 percent. C) 13.3 percent. D) 20 percent.
If a country grows at an average rate of 3.5 percent per year, we can estimate it will double its:
A. growth rate in 70 years. B. real GDP per capita in 70 years. C. real GDP per capita in 20 years. D. growth rate in 20 years.
The longer and more unpredictable that the policy lags are, the stronger the case for active stabilization policy
a. True b. False Indicate whether the statement is true or false
When Mark recruits a new motor mechanic in his car repair and service workshop, the number of cars serviced in a day increases by five. If the number of servicing orders received by Mark remains the same, it implies that:
a. the marginal physical product of the new motor mechanic is five. b. the marginal revenue product of the new motor mechanic is zero. c. the marginal revenue product of the new motor mechanic is five. d. the marginal physical product of the new motor mechanic is zero.