When the production function is represented by Y = NA, labor productivity is represented by which of the following expressions?
A) 1/A
B) NA
C) A/Y
D) Y/A
E) none of the above
E
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If your nominal income is $80,000 and your real income in base year prices is $71,500, what is the CPI?
A) 106 B) 150 C) 112 D) 100 E) 89
The rate at which a consumer must give up y to get one more x is equal to
A) -Px/Py. B) -Py/Px. C) -MUx/MUy. D) MUy/MUx.
What is common property? What does common property have to do with externalities?
What will be an ideal response?
When the tax rates imposed on the rich are high, a reduction in these rates
a. will always lead to a reduction in the tax revenue collected from the rich. b. will not affect the tax revenue collected from the rich. c. will increase the reported incomes of the rich and it may also lead to an increase in tax revenue collected from them. d. will decrease the reported incomes of the rich, and thereby reduce the tax revenue collected from them.