In 2013, federal government spending made up approximately __________ percent of GDP in the United States
A) 14
B) 23
C) 34
D) 44
E) 54
B
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Many people buy fire insurance when they are not required to do so. What does this tell you about their risk preferences?
What will be an ideal response?
If you buy a brand new, American-made laptop computer to track stock prices in your career as a stockbroker, then it will be classified in GDP accounting as
a. a change in business inventory b. a consumption expenditure c. an investment expenditure d. a service good e. a household expenditure
Euler's theorem implies that if a production function exhibits constant returns to scale, then:
A. economic profit is zero. B. accounting profit is zero. C. the marginal product of labour equals the real wage. D. the marginal product of capital equals the real interest rate.
Exhibit 16-4 Marginal tax rate lines
?
In Exhibit 16-4, line C represents a(n):
A. regressive tax. B. progressive tax. C. proportional tax. D. ability-to-pay tax.