In the economic way of thinking, money
A) allows people to behave completely morally.
B) allows people to behave completely competitively.
C) allows people to make goods exchanges without concern for the true costs of their actions.
D) allows people to make a wide range of negotiations.
D
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For a person earning $15,000, the average tax rate is:
A. 10%
B. 15%
C. 12.5%
D. 11.7%
The three components of personal consumption expenditures are:
a. durable goods, nondurable goods, and services. b. durable goods, food, and housing. c. durable goods, nondurable goods, and housing. d. durable goods, services, and food. e. durable goods, services, and transportation.
If the total cost of producing 6 units is $228 and the total cost of producing 7 units is $245, what is the marginal cost of producing the seventh unit?
a. $35 b. $245 c. $3 d. $38 e. $17
Macroeconomic models focus on the behavior of
a. individual households, business firms, and government agencies b. individual nations in the foreign trade sector c. the entire economy d. large industrial sectors, such as manufacturing e. individual business firms and government agencies