Related to the Economics in Practiceon page 391: Refer to Table 19.4. If income increases from $30,000 to $40,000, the marginal tax rate is
A) 5%.
B) 20%.
C) 35%.
D) indeterminate from this information.
Answer: C) 35%.
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Which of the following equations does NOT state a condition required for equilibrium output:?
A) Y = C(Yd) + I + G + CA(EP*/P,Yd) B) Y = C(Y - T) + I + G + CA(EP*/P,Y - T) C) Y = D(EP*/P,Y - T,I,G) D) R = R* + (EP/E) E) Y = D(EP*/P,Yd,I,G)
The idea behind comparative advantage reflects the possibility that one party a. may be able to produce something relatively more efficiently than another. b. may be able to produce something at a lower opportunity cost than another. c. may be able to produce something more cheaply than another
d. all of the above
Suppose that in a closed economy GDP is equal to 11,000, taxes are equal to 1,000, consumption equals 7,500, and government purchases equal 2,000 . What is national saving?
a. -500 b. 500 c. 2,000 d. None of the above is correct.
What is a credit-default swap?
What will be an ideal response?