For a monopoly, price always equals marginal revenue
a. True
b. False
Indicate whether the statement is true or false
False
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The central bank of the United States is the:
A) First American Bank. B) Federal Reserve. C) Federal Deposit Insurance Corporation. D) U.S. Treasury.
According to the rational expectations view, _____
a. the economy will never deviate from the natural rate of unemployment for any anticipated policy b. the long-run inflation rate is equal to zero c. expected inflation is always less than actual inflation d. people use only past information to form expectations about future inflation rates e. announced money-growth policies are quite effective in reducing unemployment below its natural rate
Which department in a modern university would most likely advertise itself as a promoter of modern growth theory?
a. computer science b. accounting c. economics d. history
Suppose that the government collected taxes in the following fashion: people who earn less than $50,000 pay 25 percent in taxes, people who earn between $50,000 and $100,000 pay 35 percent in taxes, people who earn between $100,000 and $200,000 pay 30 percent in taxes, and people who earn more than $200,000 pay 28 percent in taxes. Which of the following statements is correct?
a. The tax system is proportional for income levels less than $50,000 and regressive for income levels above $50,000. b. The tax system is regressive for income levels less than $100,000 and progressive for income levels above $100,000. c. The tax system is progressive for income levels less than $100,000 and regressive for income levels above $100,000. d. The tax system is progressive for income levels less than $50,000 and proportional for income levels above $100,000.