A $10 fee to obtain a driver’s license is a
A. regressive tax.
B. degressive tax.
C. proportional tax.
D. progressive tax.
Answer: A
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A constant rate of U.S. economic growth over a given period of years would involve
A) adding the same amount of real dollars to real GDP per capita each year. B) compounding the percentage increase in real GDP per capita over the years. C) adding the same amount of nominal dollars to real GDP per capita each year. D) None of the above are correct.
Diminishing marginal returns means that as you combine more units of a variable resource with a set of fixed resources:
a. the average physical product of the fixed inputs increases at an increasing rate. b. the marginal physical product of the variable input decreases. c. the total output decreases. d. the marginal physical product of the variable input increases at a constant rate. e. the marginal physical product of the variable input increases at a decreasing rate.
Which of the following is an example of a principal/agent relationship?
a. Banks lending money to start-up companies. b. An investment banker investing the client's money into different securities. c. Advance booking for a car after watching its promos at a car show. d. Investing your money in fixed-return deposits and government securities.
A group of firms working together and acting as a supplier of a product is called a cartel. A group of employees working together and acting as a single supplier of labor is called a