A proportional tax is one in which the fraction of income paid in taxes rises as a person's income increases
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is true of fiat money?
A) Fiat money is illegal and difficult to counterfeit. B) The raw materials required for the production of fiat money are available only in a few countries. C) Fiat money is not backed by a physical commodity. D) The technology required to produce fiat money is not widely available.
Which of the following factors might make capital mobility less than perfect?
a. Risks due to exchange rate changes b. Differential risk on the assets of different countries c. Technological progress, which improves the quality of information on foreign assets d. both a and b. e. All of the above
In this case, the abatement level associated with benefit-based standards would be:
Suppose that the costs and benefits of achieving water quality in New York are modeled as shown below. Use these relationships for any or all of questions 14 through 16. MSB = 80 – 2A MSC = 20 + 2A TSB = 80A – A2 TSC = 20A + A2, where A is the abatement level for conventional pollutants. a. 40 c. 10 b. 15 d. none of the above
The production function for a competitive firm is Q = K.5L.5. The firm sells its output at a price of $10, and can hire labor at a wage of $5. Capital is fixed at one unit and costs $2. The maximum profits are:
A. 10. B. 3. C. 15. D. None of the answers are correct.