Refer to Table 18-6. Calculate the income tax paid by Sasha, a single taxpayer with an income of $60,000
A) $22,800 B) $14,400 C) $13,800 D) $13,642
B
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During what period of time did the United States most consistently adhere to the gold standard?
A) from 1914 until 1929 B) from the eighteenth century until the nineteenth century C) from 1944 until 1980 D) from the nineteenth century until the 1930s
What characteristic do human and physical capital share?
A) Both are controlled by the government. B) Current costs are incurred for future benefits. C) Their growth depends crucially on the growth of total factor productivity. D) The use of both exhibits rivalry.
Which of the following statements about monopoly is most accurate?
a. The monopolist has no incentive to produce efficiently. b. Regardless of what is produced, the monopolist will use too many resources. c. A monopolist has no incentive to keep costs down. d. The monopolist "understocks" the market and charges too high a price.
The Ricardian equivalence proposition suggests that a government deficit caused by a tax cut
A. raises interest rates. B. causes a current account deficit. C. causes inflation. D. doesn't affect consumption.