The way in which most persons pay their personal income tax is in the form of
a. quarterly payments throughout the year.
b. annual payment by April 15.
c. monthly payments as part of mortgage payments.
d. payroll withholding during the year.
d
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A machinery used in a factory is a(n) ________ good
A) club B) capital C) inferior D) public
You earned $30,000 in 2007, and your salary rose to $80,000 in 2016. If the CPI rose from 82 to 202 between 2007 and 2016, which of the following is true?
A) The purchasing power of your salary increased between 2007 and 2016. B) There was deflation between 2007 and 2016. C) The purchasing power of your salary fell between 2007 and 2016. D) The purchasing power of your salary remained constant between 2007 and 2016.
Assume Brandon's benefit function for water is S(W) = ?W and he consumes water both in droughts, WD, or in the rainy season, WR. Assume his current consumption bundle is WD = 36 and WR = 25 and the probability of drought is 0.75. Brandon's risk premium is:
A. 66.31 units of water. B. 0.19 units of water. C. 33.16 units of water. D. 3.20 units of water.
Economic theory and history indicate that open elections and democratically elected governments
a. are unique in their ability to produce good economic institutions. b. must be accompanied by economic institutions that will allocate resources efficiently, or otherwise democratic institutions will not survive. c. reflect only transactions that are based on mutual agreement and voluntary exchange. d. are unable to guarantee either the emergence or continuation of economic institutions and policies that will encourage productive behavior.