The top 10% of income earners pay ________ of federal income taxes.
A. 10%
B. 53%
C. 93%
D. 71%
Answer: D
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Refer to the table above. ________ has the comparative advantage in making pies and ________ the comparative advantage in making cakes. Time to Make a PieTime to Make a CakeMartha60 minutes80 minutesJulia50 minutes60 minutes
A. Julia; Martha B. Martha; Julia C. Julia; Julia D. Martha; Martha
Eliza Doolittle hasn't worked in years, and doesn't intend to. What can we clearly conclude about Eliza?
A) She's lazy. B) She's a parasite on society. C) She's not employed. D) She's unemployed. E) All of above are true.
Is this Nash equilibrium efficient?
a. Yes, because the sum of payoffs is highest b. No, because both the parties can do better c. No, because both the parties are maximizing their profits d. All of the above
A firm is operating such that the marginal product of labor is 10 and the marginal product of capital is 20. The firm is minimizing its costs only if
A. the rental rate is half the wage. B. the wage is half the rental rate. C. since capital is more productive than labor, the firm must be minimizing cost. D. Given this information the firm can't be minimizing cost under any circumstances.