The income and wealth gap in the United States has
A. decreased in recent years.
B. stayed the same in recent years.
C. increased in recent years.
D. helped reduce the federal budget deficit.
Answer: C
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In the above table, for Mary the opportunity cost of producing a dress is ________ and the opportunity cost for Mark of producing a dress is ________
A) 1 1/2 jackets; 2 1/2 jackets B) 1 jacket; 1 jacket C) 1 dress; 1 dress D) 1 1/2 jackets; 2/3 of a jacket E) 1 1/4 jackets; 1/2 of a jacket
A firm estimates its long-run production function to beQ = -0.0075K3L3 + 12K2L2Suppose the firm employs 12 units of capital. At ________ units of labor, average product of labor begins to diminish.
A. 32.21 B. 76.66 C. 82.27 D. 66.67 E. 44.44
One major advantage of a flat tax over the current tax system would be ______.
a. higher earners contributing a greater share b. the ability of tax payers to use more exemptions c. increased employment opportunities for tax accountants d. a simplification of the tax filing process
During a severe and persistent recession, Keynesians would most likely propose
A. a tight money policy. B. annually balanced federal budgets. C. macroeconomic stabilization. D. tax increases.