If a household has a husband, wife, and two kids, has a standard deduction of $12,600, has itemized deductions of $13,850, and personal exemptions of $16,000 (4*$4,000), then the first ________ of income is federal income tax free.
A. $29,850
B. $41,450
C. $37,100
D. $28,600
Answer: A
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Which statement is true?
A. it is easier to attain full employment than full production. B. employment discrimination no longer exists in the U.S. labor market. C. The United States is usually operating on the production possibilities frontier. D. None of these statements are true.
Which of the following relationships is CORRECT?
A) Net Investment = Gross Investment + Depreciation B) Consumption expenditure = Net Investment - Depreciation C) Gross Investment = Net Investment + Depreciation D) Depreciation = Gross Investment - Consumption expenditure
Rate of return regulation is typically imposed on
A) monopolistically competitive firms. B) an oligopoly. C) a natural monopoly. D) perfectly competitive firms.
If the measured elasticity of supply coefficient equals 1.3, then supply is: a. perfectly elastic. b. elastic
c. unit elastic. d. inelastic.