Becky holds $30,000 as money. After a year during which inflation was 5 percent a year, the inflation tax over that year was
A) $1,000. B) $1,500. C) $500. D) $5. E) $3,000.
B
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Whose work resulted in a doomsday forecast?
A. Robert Solow. B. Thomas Malthus. C. Karl Marx. D. Edward Denison.
A ________ income tax means that those with a higher income pay a higher percentage of their income in taxes than low-income people.
A. proportional B. consumption-based C. progressive D. regressive
A rational choice is ___________
A. the best thing you must forgo to get something B. what you are willing to forgo to get something C. made by comparing marginal benefit and marginal cost D. the best for society
In a market that is characterized by imperfect competition,
a. firms are price takers. b. there are always a large number of firms. c. there are at least a few firms that compete with one another. d. the actions of one firm in the market never have any impact on the other firms' profits.