The marginal tax rate is
A) the amount of taxes paid as a percentage of gross domestic product (GDP).
B) the amount of per-capita taxes paid.
C) the amount of taxes paid as a percentage of income.
D) the fraction of each additional dollar of income that must be paid in taxes.
D
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Burger King is paying $9 an hour to its workers. If the expected inflation rate equals the actual inflation rate and both are 10 percent a year, then to keep the real wage rate constant in a year the money wage rate must
A) fall to $8.10 an hour. B) rise to $9.45 an hour. C) rise to $10.00 an hour. D) rise to $9.90 an hour. E) stay at $9.00 an hour.
All of the following are factors that will shift the demand curve except
A) a change in the price of complementary products. B) a change in the price of substitute products. C) a change in income. D) a change in the price of inputs.
Macroeconomics differs from microeconomics in that
A) macroeconomics studies the decisions of individuals. B) microeconomics looks at the economy as a whole. C) macroeconomics studies the behavior of government while microeconomics looks at private corporations. D) macroeconomics focuses on the national economy and the global economy.
Countries that have indexed most contracts, wages, and interest rates to inflation have managed to sustain solid levels of economic growth for sustained periods with levels of inflation at ________, which would sound high by recent U.S. standards.
a. 10 percent to 30 percent per year b. 30 percen to 40 percent per year c. 5 percent to 10 percent per year d. 40 percent to 50 percent per year