Pollution regulation by requiring firms to implement specific equipment or actions is known as ___________
a. Pigouvian or pollution taxes
b. tradable pollution permits
c. pollution standards
d. technology-based regulations
e. None of the above.
Ans: d. technology-based regulations
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Suppose the income tax rate schedule is 0 percent on the first $10,000; 10 percent on the next $20,000; 20 percent on the next $20,000; 30 percent on the next $20,000; and 40 percent on any income over $70,000
Family A earns $32,000 a year and Family B earns $70,000 a year. Both families each receive a ten percent raise. What is the marginal tax rate of each and what is the extra tax paid by each after the raise?
If a firm in a perfectly competitive industry is experiencing average revenues greater than average costs, in the long-run
a. Some firms will leave the industry and price will rise b. Some firms will enter the industry and price will rise c. Some firms will leave the industry and price will fall d. Some firms will enter the industry and price will fall
Are outstanding credit card balances counted as part of the money supply?
a. No; credit card balances reflect funds that have been borrowed. Unlike money, they cannot be used as a means of payment. b. Yes; they are used to purchase things and therefore they are included in the money supply figures. c. They are included in the M1 money supply, but not the M2 figures. d. They are included in the M2 money supply, but not the M1 figures.
In a diagram of aggregate demand and supply curves, the AD shortfall is measured as the
A. Horizontal distance between the aggregate demand curve necessary for full employment and the aggregate demand curve that intersects AS at the equilibrium price. B. Vertical distance between the recessionary GDP gap and the inflationary GDP gap. C. Horizontal distance between the equilibrium output and the full-employment output. D. Vertical distance between the equilibrium price and the price at which the aggregate demand would intersect aggregate supply at full employment.