Even though international trade is undertaken voluntarily, a country that engages in trade may not benefit from it.
Answer the following statement true (T) or false (F)
False
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Answer the next question on the basis of the following four tax schedules for the given base of taxable income. IncomeTax ATax BTax CTax D$10,000$650$1,000$500$1,00020,0008502,0001,0003,00030,0009504,0001,5006,00040,0001,0506,0002,0009,500Which of the above tax schedules is a progressive tax schedule throughout?
A. Tax A B. Tax B C. Tax C D. Tax D
In the table above, which of the following is TRUE?
A) Jim and Sally have increasing marginal utility. B) Jim has increasing marginal utility and Sally has diminishing marginal utility. C) Jim has diminishing marginal utility and Sally has increasing marginal utility. D) Jim and Sally have diminishing marginal utility.
Every individual has a labor supply curve in each market where there is a possible use for his/her labor
a. True b. False
Refer to Table 8.1. Assume the wage rate is $10 and the firm has $1,000 in unavoidable fixed cost. What is the average fixed cost of producing 93 units of output?
A. $11.40
B. $10.75
C. $0.65
D. $10.00