In thinking about the criteria for an ideal voting system, needing no dictator means:
A. one person cannot have the power to enact his or her own preferences.
B. those in power must be forced to listen to the will of the people when enacting policy.
C. the presence of pure democracy is needed, so everyone gets a vote.
D. one person cannot have their preferences represented in what voters decide upon.
A. one person cannot have the power to enact his or her own preferences.
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Based on the production and revenue data in the above table, what is the marginal product of the 4th worker?
A) 28 B) 6 C) 4 D) 2
The indifference curves of two investors are plotted against a single budget line. Indifference curve A is shown as tangent to the budget line at a point to the left of indifference curve B's tangency to the same line
A) Investors A and B will hold the same portfolio. B) Investors A and B will have different portfolios of the same standard deviation. C) Investors A and B will have different portfolios of the same rate of return. D) Investors A and B will have different portfolios but have the same level of risk aversion. E) Investor A will expect to earn a lower rate of return than investor B.
Rational ignorance suggests that voters may not spend much time examining candidates before an election because
a. politics is boring b. each voter has virtually no chance of deciding the election c. public choices are not important to society d. candidates are chosen by the electoral college e. candidates are usually so different that it is easy to determine which is better
Costas faces a progressive federal income tax structure that has the following marginal tax rates: 0 percent on the first $10,000 . 10 percent on the next $10,000 . 15 percent on the next $10,000 . 25 percent on the next $10,000 . and 50 percent on all additional income. In addition, he must pay 5 percent of his income in state income tax and 15.3 percent of his labor income in federal payroll
taxes. Costas earns $70,000 per year in salary and another $20,000 per year in non-labor income. What is his average tax rate, and what is his marginal tax rate on his salary? a. His average tax rate is 17.19 percent, and the marginal tax rate on his salary is 55 percent. b. His average tax rate is 50.23 percent, and the marginal tax rate on his salary is 70.3 percent. c. His average tax rate is 53.63 percent, and the marginal tax rate on his salary is 70.3 percent. d. His average tax rate is 55.79 percent, and the marginal tax rate on his salary is 70.3 percent.