A progressive income tax would cause the after-tax Lorenz curve, compared with the before-tax Lorenz curve, to be:
A. More bowed toward the southeast
B. Less bowed toward the southeast
C. A vertical line
D. A horizontal line
B. Less bowed toward the southeast
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Consider the following data for a closed economy:
Y = $12 trillion C = $8 trillion I= $2 trillion G = $2 trillion TR = $2 trillion T = $3 trillion
Arthur Bach is worth $780 million dollars. He goes into an upscale men's store and buys 32 green sweaters, each costing $200 . If Arthur has maximized his utility from this purchase, what is the marginal utility of the thirty-third green sweater?
a. cannot tell b. greater than $200 c. less than $200 d. 0 e. $200
Consider a small family wheat farm. List some examples of implicit costs of farming
Kayla faces risks and she pays a fee to ABC Company; in return, ABC Company agrees to accept some or all of Kayla's risks. ABC Company is
a. a mutual fund. b. an insurance company. c. a diversified company. d. an equity-financed company.