In 1960, the most developed economies had _______ the GDP per capita of the poorest economies.
a. 2.4 times
b. 4.2 times
c. 3.4 times
d. 5.4 times
b. 4.2 times
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At the last board meeting a member proposed that the Marshall Lions Club lower its hamburger price at the Celebrate Marshall Festival. He argued this would sell more hamburgers for charity
a. He is wrong. b. Revenues would decrease. c. Revenues would rise. d. Revenues are not what matters. e. Profits would increase.
There are 100 residents in the City of Mos Eisley. Each resident's willingness to pay for an additional acre of parkland (P) depends on the number of acres the City already has (Q), and is given by P = 20 - 0.10Q. If parkland is a public good, and the cost of each acre of parkland is constant and equal to $500, then what's the socially optimal number of acres of parkland in Mos Eisley?
A. 0 acres B. 185 acres C. 150 acres D. 520 acres
A regressive tax is one where the taxpayer's percent of income paid in taxes will ____ as incomes increase. An example is the ____
a. decrease; sales taxes on food b. decrease; state corporate income taxes c. increase; property taxes on residential real estate d. increase; federal household income taxes
The aggregate expenditure model focuses on the ___ relationship between real spending and ____
Fill in the blank(s) with the appropriate word(s).