The Laffer curve specifies
a. a negative relationship between marginal tax rates and tax revenue.
b. a positive relationship between marginal tax rates and tax revenue.
c. no relationship between marginal tax rates and tax revenue.
d. none of the above.
D
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In macroeconomics, it is impossible to include many individual markets in a single data source
a. True b. False
If Harry only pays $25,000 to purchase a new car even though he would have been willing to pay as much as $35,000 for the car, this indicates that
What will be an ideal response?
Kate has just decided to order a laptop computer that is made in China. She needs to convert U.S. dollars for Chinese yuan. This conversion takes place in the
A. International Monetary Fund. B. foreign exchange markets. C. target zone. D. SDRs.
Samantha is at a friend's house for dinner. Her friend says "I can re-heat either the lasagna or the fried rice." Samantha likes them both, but chooses the fried rice. Does Samantha's choice entail a cost?
A) No—as long as her friend didn't charge Samantha for the meal. B) Yes—Samantha sacrificed the opportunity to eat lasagna. C) Yes—as long as Samantha reimburses her friend for the cost of re-heating the meal. D) Both A and C above.