The 2006-2008 period can be accurately described as a time of stagflation
a. True
b. False
Indicate whether the statement is true or false
False
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Consider two people, Sandy Ross, who earns $25,000 . and Gary Belcher, who earns $50,000 . If the flat-tax rate is 20 percent, then:
a. the government collects a total of $20,000. b. Gary pays twice the tax amount Sandy pays. c. Gary pays three times the tax amount Sandy pays. d. Gary and Sandy pay exactly the same tax amount. e. Gary pays $15,000 in taxes.
The marginal product of any input into the production process:
A. is the constant ratio of inputs to outputs. B. is the increase in output that is generated by an additional unit of input. C. is the decrease in input that is generated by an additional unit of output. D. None of these is true.
In the figure above, the wage rate is $600 and total fixed cost is $15,000. How much output does the firm produce when average variable cost is at its minimum?
A. 375 B. 1,600 C. 270 D. 4,800 E. 30
The percentage of Head Start enrollees in homes headed by single women is
A. 35%. B. 10%. C. 1%. D. 50%.