Investment spending includes spending on:
A. capital goods, residential housing, and changes in inventories.
B. stocks, bonds, and other financial instruments.
C. durables, nondurables, and services.
D. goods and services by federal, state, and local governments.
Answer: A
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What is the difference between a marginal tax rate and an average tax rate? Which is more important in determining the impact of the tax system on economic behavior?
What will be an ideal response?
Union membership, in terms of percentage of the U.S. civilian labor force
A) has increased steadily since the passage of the Wagner Act. B) peaked about 1960 and has since declined. C) was over 50 percent in 1987. D) has increased dramatically since 1970.
Laissez-faire capitalism limits the government's economic functions to the following, except:
A. Protecting private property rights B. Establishing a legal environment to enforce contracts among individuals C. Preventing individuals and firms from coercing others D. Setting prices of individual goods and services
Refer to the information provided in Table 8.2 below to answer the question(s) that follow.
Table 8.2 
Refer to Table 8.2. If Sherry produces five pairs of earrings, her total costs are
A. $320. B. $360. C. $370. D. $400.