If there is an increase in the number of workers who want to work as accountants, there will be a
A. Movement down the labor supply curve to the left.
B. Leftward shift of the labor supply curve.
C. Rightward shift of the labor supply curve.
D. Movement up the labor supply curve to the right.
Answer: C
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Recall the four types of goods. Are national defense and basic research the same type of good? Briefly explain
Jan has an income of $30,000 and pays $4,500 in taxes. When Jan's income rises to $40,000, her tax bill rises to $6,500. What is Jan's marginal tax rate?
A. 5 percent. B. 15 percent. C. 16.25 percent. D. 20 percent.
Macroeconomics is the study of how individual choices are affected by economic forces.
Answer the following statement true (T) or false (F)
If a family's MPC is 0.7, it means that the family is:
A. Operating at the break-even point B. Spending seven-tenths of any increment to its income C. Necessarily dissaving D. Spending 70 percent of its disposable income