The average tax rate can be calculated by which of the following formulas?
A. total taxable income divided by total taxes due
B. total taxes due divided by total taxable income
C. the change in taxes due divided by the change in taxable income
D. the change in taxable income divided by the change in taxes due
Answer: B
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To the extent that a governmental price control succeeds in affecting price, it can be expected to lead to a corresponding: a. reduction in the volume of sales only if the price is forced down
b. reduction in the volume of sales if the price is forced down and an increase in the volume of sales if the price is forced up. c. decrease in the volume of sales whether the price is forced up or down. d. increase in the volume of sales whether the price is forced up or down.
If intended investment increases by $50, and the MPC remains unchanged at 0.75, then
a. the economy is in equilibrium at both levels of intended investment because MPC remains unchanged b. national income remains unchanged regardless of the change in intended investment c. MPS must increase from 0.25 to 0.75 d. national income increases by $200 e. we know this couldn't happen because the MPC cannot remain unchanged when intended investment changes
The economy is considered to be at full employment when
a. the actual rate of unemployment is less than the natural rate b. the leading economic indicators are unchanged for two consecutive quarters c. structural unemployment is zero d. frictional plus structural unemployment is less than the natural rate e. the rate of cyclical unemployment is zero
Someone who is deemed irrational from an economic standpoint is someone who
a. voluntarily partakes in actions contrary to his personal preferences. b. voluntarily partakes in actions contrary to what society deems acceptable. c. voluntarily partakes in actions that the majority of consumers would not. d. sets prices at ninety-nine cents.