The Emission Trading Scheme of the European Union
A. allowed firms to benefit from emitting pollutants.
B. sets the amount of per-unit tax on each pollutant.
C. created a market for pollutants.
D. sets a cap on the amount of pollutants in each country.
Answer: C
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Gross domestic product (GDP) equals the ________ of final ________ produced within a country during a given period of time.
A. market value; goods and services B. quantity; goods and services C. market value; goods D. market value; services
The total amount spent on new capital in a time period is equal to
A) wealth. B) gross investment. C) depreciation. D) net investment.
If the Federal Reserve increases interest rates, ceteris paribus
A) the supply curve of U.S. dollars shifts leftward and the supply curve of European euros shifts rightward. B) the demand curve for U.S. dollars shifts leftward and the supply curve of U.S. dollars shifts rightward. C) the demand curve for U.S. dollars and the demand curve for European euros both shift rightward. D) the supply curve of U.S. dollars shifts rightward and the supply curve of European euros shifts leftward
Assume that Mr. Smith's income increased from $40,000 last year to $45,000 this year and that he paid an additional $2,000 in taxes. This would indicate that his marginal tax rate is
A) 10 percent. B) 25 percent. C) 30 percent. D) 40 percent.