Under a progressive tax system, the tax rate increases as income increases
a. True
b. False
Indicate whether the statement is true or false
True
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Producer surplus is the difference between the
A) price and the willingness to pay for the good. B) price and the marginal cost of producing the good summed over the quantity sold. C) willingness to pay for the good and the marginal cost of producing the good summed over the quantity sold. D) marginal benefit of consuming the good and the marginal cost of producing the good summed over the quantity sold.
Voters' Ordered PreferencesAbbyBobCarloPublic parksPublic zooPublic transportationPublic zooPublic transportationPublic parksPublic transportationPublic parksPublic zooIf a pair-wise majority vote was held and the voters' preferences are shown in the table, assuming public parks and the zoo was the first pair to be voted on, which option would win overall?
A. Public transportation B. Public parks C. Both Public parks and zoo. D. Public zoo
A decrease in the price of bubble gum below equilibrium will
A. Cause a surplus of bubble gum. B. Shift the bubble gum demand curve to the right. C. Shift the bubble gum supply curve to the right. D. Cause a shortage of bubble gum.
Job openings are plentiful when the
A) actual real GDP is above the natural real GDP. B) natural real GDP is above the actual real GDP. C) natural real GDP is increasing rapidly. D) None of the above.