The marginal tax rate is the:
A. Sum of all individual tax rates
B. Tax rate paid by those with the lowest family incomes
C. Total amount of taxes paid as a percentage of total income
D. Increase in taxes as a percentage of an increase in income
D. Increase in taxes as a percentage of an increase in income
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Answer the next question on the basis of the following information: Three goods are produced in an economy in the following amounts: A = 10, B = 30, C = 5. The current year per unit prices of these three goods are A = $2, B = $3, and C = $1.If the per unit prices of the three goods were each $1 in a base year used to construct a GDP price index, then real GDP in the current year is ________.
A. $160 B. $115 C. $45 D. $110
Explain what is meant by perfect price discrimination
What will be an ideal response?
A prisoner of war camp seems a likely place for "cigarette money," because ________
A) nearly all prisoners smoke cigarettes B) of the absence of better alternatives C) cigarettes are abundant and easy to count D) the guards can enforce the practice of accepting cigarettes as a medium of exchange E) cigarettes retain their value over time
The process of research and development
a. always leads to useful products. b. almost never leads to useful products. c. often involves a waste of resources. d. is usually conducted in governmental laboratories.