Refer to Figure 4-15. How much of the tax is paid by sellers?
A) $2 B) $5 C) $7 D) $12
A
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Data on after-tax income and consumption spending for the Adam Smith family are given below:After-tax IncomeConsumption Spending9,00015,40014,00018,40019,00021,40024,00024,400Based on these data, the Adam Smith family has a marginal propensity to consume equal to:
A. 0.9. B. 0.75. C. 0.6. D. 0.8.
Keith just got an iPhone 5 for his birthday, and he quickly switches his data over and throws his iPhone 4 in a drawer and forgets about it. Economists would say this behavior is ___________ and would use the concept of ________________ to explain this choice.
A. rational; the implicit cost of ownership B. irrational; the implicit cost of ownership C. irrational; ignoring sunk costs D. rational; considering sunk costs
Transactions deposits include
A. checkable and debitable accounts. B. credit cards. C. certificates of deposit. D. lines of credit.
If an investment (where the costs are incurred before then profits) makes sense when the interest rate on the borrowed money to pay for it is 10%,
A. a decrease in the interest rate will cause the investment to be less profitable, but it may still make money. B. an increase in the interest rate will cause the investment to be more profitable. C. an increase in the interest rate will cause the investment to lose money. D. a decrease in the interest rate will cause the investment to make even more money.