The legislation that extended antitrust legislation to proprietorships and partnerships was the:
A. Sherman Act.
B. Hart-Scott-Rodino Act.
C. Robinson-Patman Act.
D. Celler-Kefauver Act.
Answer: B
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Last year, Anthony Millanti earned exactly $30,000 of taxable income. Assume that the income tax system used to determine Anthony's tax liability is progressive
The table below lists the tax brackets and the marginal tax rates that apply to each bracket. a. Draw a new table that lists the amounts of income tax that Anthony is obligated to pay for each tax bracket, and the total tax he owes the government. (Assume that there are no allowable tax deductions, tax credits, personal exemptions, or any other deductions that Anthony can use to reduce his tax liability). b. Determine Anthony's average tax rate. Tax Bracket Marginal Tax Rate $0-5,000 0.05 (5%) 5,001-10,000 0.10 (10%) 10,001-15,000 0.15 (15%) 15,001-20,000 0.20 (20%) 20,001-25,000 0.25 (25%) 25,001-30,000 0.30 (30%)
Which of the following is not considered to be a determinant of the price elasticity of demand for a particular good?
A) The number of available substitutes. B) The cost of the good relative to total income. C) The quantity of the good that is supplied to the market. D) The time period under consideration.
The members of the Clean City group report that the overuse of several gardens in a neighborhood has led to pollution. In order to protect the gardens, they allowed only the elderly to access the gardens. By taking this measure, they converted a _____ to a _____
a. private good; public good b. public good; merit good c. private good; club good d. public good; club good
Which of the following is correct? When actual leakages exceed actual injections, then:
a. Inventories rise, unemployment tends to rise, and prices tend to fall. b. Inventories rise, unemployment tends to fall, and prices tend to rise. c. Inventories fall, unemployment tends to rise, and prices tend to rise. d. It is impossible for these two to be unequal. e. The nation falls into an economic recession.