Suppose that in some state the civilian, non-institutionalized adult population is 4 million, the labor force participation rate is 75%, and 250,000 people are unemployed. What is the unemployment rate (to the nearest tenth)?
A) 6.3%
B) 7.7%
C) 8.3%
D) 9.1%
Ans: C) 8.3%
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Cleanup of Superfund sites is currently funded by
a. a tax on petroleum b. annual appropriations by Congress c. a corporate environmental income tax d. monies appropriated under the American Recovery and Reinvestment Act e. all of the above f. (b) and (d) only
As the tax on a good increases from $1 per unit to $2 per unit to $3 per unit and so on, the
a. tax revenue increases at first, but it eventually peaks and then decreases. b. deadweight loss increases at first, but it eventually peaks and then decreases. c. tax revenue always increases, and the deadweight loss always increases. d. tax revenue always decreases, and the deadweight loss always increases.
Senator Smith proposes that the income tax structure be revised to have two tax rates. The first, 16 percent, applies to persons whose income is between $0 and $40,000 a year. The second, 23 percent, applies to persons whose income is more than $40,000 a year. This is a
A) regressive income tax structure. B) proportional income tax structure. C) progressive income tax structure. D) cyclical income tax structure.
Anything that influences a good’s price or the marginal physical product of labor will influence wages.
Answer the following statement true (T) or false (F)