In 2010, anyone with an income in excess of $____________ pays the marginal tax rate of 35%.
A. 500,000
B. 372,950
C. 296,400
D. 198,200
B. 372,950
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A country will realize no gains from trade if
A) pre-trade and free-trade relative prices are identical. B) all countries employ the same technology. C) it does not have an absolute advantage in at least one good. D) its wage exceeds the world average. E) pre-trade and free-trade relative prices are not identical.
A side effect of an action that adversely affects the well-being of others is called a
A. complement. B. supplement. C. negative externality. D. marginal cost.
If the utility function (U) between food (F) and clothing (C) can be represented as U = , the marginal rate of substitution of clothing for food equals
A) -C/F. B) -F/C. C) - . D) - .
If you use $1,000 to purchase silver bullion, which you plan to keep in a safe, you are using money as:
A. a store of value. B. a unit of account. C. bank reserves. D. a medium of exchange.