______ has to do with how representatives are authorized and held accountable.
A. Descriptive representation
B. Formalistic representation
C. Symbolic representation
D. Substantive representation
B. Formalistic representation
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The average tax rate faced by an individual is the ________
A) total tax paid by her divided by the total income earned B) total revenue received by the government divided by the number of taxpayers C) percentage of the last dollar earned that a household pays as a tax D) difference between the highest tax rate and the lowest tax rate
An example of a time series data set is one for which the:
a. data would be collected for a given firm for several consecutive periods (e.g., months). b. data would be collected for several different firms at a single point in time. c. regression analysis comes from data randomly taken from different points in time. d. data is created from a random number generation program. d. use of regression analysis would impossible in time series.
Which of the following is not one of the four principles of individual decision making?
a. People face trade-offs. b. Trade can make everyone better off. c. People respond to incentives. d. Rational people think at the margin.
The gains from specific training in human capital tend to go to the
A. employing firm and not the individual. B. individual and not the employing firm. C. parents since they paid for the education in the first place. D. federal government in the form of higher taxes.