Mr. Forbes pays $35,000,000 in federal income tax. How much is his marginal tax rate?
What will be an ideal response?
35%
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A small Caribbean island-country produces only pineapples and rum. If resources are used efficiently in the economy,
A. it will not be possible to produce more rum without decreasing the production of pineapples. B. it will be possible to produce more pineapples without decreasing the production of rum. C. it will be producing on its production possibilities curve. D. it will not be possible to produce more rum without decreasing the production of pineapples AND it will be producing on its production possibilities curve.
Which of the following is likely to cause a right shift in the supply curve for labor?
A) An increase in the population B) A decrease in the population C) An increase in the price of the final good that the workers produce D) A decrease in the price of the final good that the labor is used to produce
"The second glass of zinfandel was very good," said Ian McDonald. "May I have another?" Which of the following is true with respect to Ian's comment and his request for another glass?
a. The MU of the second glass is negative. b. The MU of the second glass is less than the MU of the first glass. c. The MU of the third glass is positive. d. The MU of the third glass is negative. e. The MU of the fourth glass is positive.
Holding other factors constant, an increase in the tax rate on revenue generated by capital will:
A. decrease national saving. B. increase investment. C. increase national saving. D. decrease investment.