The advancement of computers has increased the productivity of a paper mill. How will this likely affect the supply of paper? It will likely cause:
A. a rightward shift in the supply of paper.
B. a leftward shift in the supply of paper.
C. a shift straight up in the supply of paper.
D. no shift, but a movement along the supply curve.
A. a rightward shift in the supply of paper.
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If your income is $92,000 and you pay taxes of $19,475, what is your average tax rate? Show your work
What will be an ideal response?
Which of the following correctly describes the Lorenz curve?
a. The Lorenz curve shows that the increasing income inequality in the U.S. society is actually good for the economy. b. The Lorenz curve shows the growth rate in real median family income over time. c. The Lorenz curve shows the cumulative distribution of family income, ranked from the poorest to the richest families, and compares that curve with the straight line indicating perfectly equal income distribution. d. The Lorenz curve shows the cumulative distribution of family income, ranked from the richest to the poorest families, and compares that curve with the ideal of having all income go to the richest 5 percent of society.
Which of the following scenarios best illustrates the concept of cyclical unemployment?
a. Grace loses her job because of new automated machinery. b. Sean quits his job to look for work that is more fun. c. Ellen quits looking for work because she doesn't think she can find a suitable job. d. Marian loses her job because of a recession.
(Last Word) A cap-and-trade program:
A. assigns a property right to the atmosphere. B. mandates that every firm individually cut its emissions to below a certain level. C. assigns a property right to polluting the atmosphere. D. is easy to establish and enforce.