A study by Edward Prescott found that the ________ marginal tax rates in the United States relative to Europe resulted in a ________ quantity of labor supplied in the United States
A) higher; larger
B) lower; larger
C) higher; smaller
D) lower; smaller
Answer: B
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If the capital stock increases, then the economy can produce ____ output with the ____ amount of labor
a. same, same b. less, same c. more, same d. less, less
In an economy with a population of 100 million persons, 44 million hold civilian jobs and 6 million are not working but are looking for jobs. The unemployment rate is
A) 6.0 percent. B) 13.6 percent. C) 7.3 percent. D) 9.4 percent. E) 12.0 percent.
In Ireland, a pint of beer costs 3 euros. In Australia, a pint of beer costs 4 Australian dollars. If the exchange rate is .8 euros per Australian dollar, what is the real exchange rate?
a. 4/2.4 pints of Irish beer per pint of Australian beer b. 3/3.2 pint of Irish beer per pint of Australian beer c. 3.2/3 pints of Irish beer per pint of Australian beer d. 2.4/4 pints of Irish beer per pint of Australian beer
Mutual funds have:
A. increased the risks associated with constructing a portfolio. B. reduced the costs associated with gathering information on stocks and bonds. C. increased the transactions costs associated with participating in financial markets. D. been created for very wealthy individuals with a lot of money to invest.