When we say most Americans are in the 15-percent tax bracket, we mean federal taxes are about 15 percent of the income of most Americans.
Answer the following statement true (T) or false (F)
False
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Which of the following institutions plays the role of an international lender of last resort?
A) the World Bank B) the International Monetary Fund C) the European Monetary System D) the Federal Reserve System
Which of the following is true in a market economy?
a. Central planners determine answers to the basic economic questions. b. Resources are used efficiently. c. The distribution of wealth is equal. d. Information for production and distribution decisions pass directly to buyers from the government.
Suppose you were working for Richstone's bakery and calculating whether the bakery was making a profit, considering the recent increase in rent. You have the following data: P = $20, AVC = $10, AFC = $10, and quantity of birthday cakes produced a day is 20 . You conclude that the bakery ends up at the end of the day with a
a. loss of $10 b. profit of $10 c. loss of $20 d. no loss, no profit e. loss of $40
Some economic studies have shown that mandatory seat belt laws do not lead to a reduction in traffic fatalities
Indicate whether the statement is true or false