If a household has $40,000 in taxable income and its tax liability is $4,000, the household's average tax rate is
a. 10 percent.
b. 25 percent.
c. 40 percent.
d. 50 percent
A
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If a firm decreases its capital stock, real wages will likely ________ and the equilibrium quantity of labor will likely ________
A) decrease; increase B) increase; increase C) decrease; decrease D) increase; decrease
Life expectancy at birth for the world rose from 24 years to 26 years between 1000 and 1820, but by 2003, life expectancy had risen to
a. 36 years. b. 44 years. c. 52 years. d. 64 years.
Based on the graphic for perfect competition versus monopoly, the producer surplus for perfect competition is ______ the producer surplus for monopoly.
a. greater than
b. less than
c. equal to
d. the opposite of
Is it possible for a serious third party to emerge in the United States, positioned ideologically between the Democrats on the left and the Republicans on the right? Why or why not?
What will be an ideal response?