For a person earning $15,000, the average tax rate is:
A. 10%
B. 15%
C. 12.5%
D. 11.7%
D. 11.7%
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An efficiency wage
A) is lower than the market wage and tends to decrease productivity. B) is higher than the market wage and tends to decrease productivity. C) is lower than the market wage and tends to increase productivity. D) is higher than the market wage and tends to increase productivity.
You won a free ticket to see the latest Star Wars movie this Friday night (which you can costlessly resell for its face value of $15). Your favorite band is also performing on Friday and is your only alternative activity. Friday is your last chance to see either the movie or the band. Tickets to see your favorite band cost $30, and on any given day, you would be willing to pay as much as $50 for a ticket. Based on this information, what is your opportunity cost of going to see the Star Wars movie on Friday?
A. $50 B. $35 C. $30 D. $0
For each additional lamp produced, a constant opportunity cost is incurred in terms of bookshelves. This means that
What will be an ideal response?
When the marginal propensity to consume (MPC) increases
A. the multiplier remains unchanged. B. the multiplier decreases. C. the average propensity to save remains unchanged. D. the multiplier increases.