The Smith family pays $1,400 taxes on a taxable income of $14,000. How much is its marginal tax rate?
What will be an ideal response?
10%
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When a forest is logged, it is possible for the logging to create "soil runoff," a situation in which the soil, no longer protected by trees, erodes and silts a river miles downstream from the logging area
Is soil runoff created by logging in Montana that ruins a river an example of a private cost to the lumbering company or an external cost?
Which of the following would NOT be a result of a contractionary monetary policy?
A. Interest rates would rise. B. Imports would rise. C. Net exports would decline. D. Foreign goods would become more expensive to U.S. residents.
Which of the following is NOT a deficit item on a country's balance of payments?
A. gold sales to foreigners B. a personal gift to a foreign individual C. imports D. none of these
Unions became much less effective in the 1990s because of
a. greater competition in domestic markets. b. increased foreign competition. c. downsizing by American firms. d. All of the above are correct.