Suppose a country imposes a lump-sum income tax of $5,000 on each individual in the country. What is the marginal income tax rate for an individual who earns $40,000 during the year?
a. 0%
b. 10%
c. More than 10%
d. The marginal tax rate cannot be determined without knowing the entire tax schedule.
a
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Describe the three main options available to a corporation when it needs to raise money so that it can invest in a new product or a new manufacturing technique.
What will be an ideal response?
Suppose you want to get to Orlando, Florida, for the week-long spring break. You can get there in two and one-half days by bus, and back in another two and one-half days. This will cost you $20 round-trip. You can fly there and back in four hours each way. This will cost $200 . Which of the following is not true?
a. It may be economically rational for you to go by plane rather than by bus. b. Depending on what else you can do that week, it may be economically rational for you to not go at all rather than to go by bus. c. The true cost of going to Orlando is either the time or the money you spend traveling, whichever it is you value more. d. The more you'd enjoy Orlando, the more economically rational it becomes for you to fly there instead of taking the bus. e. It is possible that it is rational for you to fly and rational for others to take the bus.
The total labor force equals: a. the number of officially employed persons
b. the number of officially unemployed persons. c. the number of officially employed plus unemployed persons. d. the number of persons aged sixteen and over in the population.
Suppose that when the price of milo falls by 10 percent, the quantity of bournvita demanded decreases by 5 percent.