A lump-sum tax:
A. charges the same amount to each taxpayer, regardless of economic behavior or circumstances.
B. refers to annual, rather than quarterly tax payments throughout the year.
C. is tied to spending habits, not income levels.
D. is tied to income levels, not spending habits.
A. charges the same amount to each taxpayer, regardless of economic behavior or circumstances.
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Which of the following best describes the movement from E1 to E2?
a. a decrease in supply b. an increase in supply c. a movement along the supply curve d. a decrease in demand
A firm pays Pam $40 per hour to assemble personal computers. Each day, Pam can assemble 4 computers if she works 1 hour, 7 computers if she works 2 hours, 9 computers if she works 3 hours, and 10 computers if she works 4 hours. Pam cannot work more than 4 hours day. Each computer consists of a motherboard, a hard drive, a case, a monitor, a keyboard, and a mouse. The total cost of these parts is $600 per computer. If the firm sells each computer for $625, then how many hours a day should the firm employ Pam to maximize its net benefit from her employment?
A. 1 hour B. 3 hours C. 2 hours D. 4 hours
You would expect the price elasticity of demand for transportation generally to be:
A. less than price elasticity of the demand for bus tickets. B. the same as price elasticity of the demand for bus tickets. C. greater than price elasticity of the demand for bus tickets. D. greater than price elasticity of the demand for bus tickets when bus tickets are expensive, but less than price elasticity of the demand for bus tickets when the prices of bus tickets fall.
Suppose that a study is released stating that the more time a person spends fishing, the smaller the chance that the person is a vegetarian. This is best described as an example of
A. positive correlation. B. negative correlation. C. positive causation. D. negative causation.