A progressive tax system is one in which tax rates rise as incomes rise.
Answer the following statement true (T) or false (F)
True
A progressive tax system is one in which tax rates rise as incomes rise.
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Your neighbor likes to blast 1970's rock music and the louder the better. The loud music imposes a cost on you because it disrupts your study of economics. Let D stand for the volume of his music in decibels, B for his benefits and C for your costs, where B and C are measured in dollars. For any given volume, D, your neighbor's benefit is B = 0.63D - 0.002D2 and your cost is C = 0.06D + 0.001D2. What is the marginal cost to you at the socially efficient noise level?
A. $0.75 B. $0.29 C. $0.24 D. $0.25
Which pair of groups benefits from an import quota when quota rights are given away without charge?
a. domestic and foreign producers b. domestic producers and foreign consumers c. domestic government and foreign consumers d. domestic government and producers e. foreign consumers and producers
Identify the correct statement regarding a fractional reserve banking system.
a. Only a fraction of the banks in the system are allowed to create money b. Only a fraction of the banks in the system have reserves. c. The claims outstanding against the bank are only a fraction of the bank's total reserves. d. Each bank must deposit a fraction of its reserves with the Federal Reserve Bank. e. Bank reserves represent only a fraction of bank deposits.
“In monopolistic ally competitive markets neither allocation nor productive efficiency is realized.” Explain
What will be an ideal response?