If Kate pays an average tax rate of 12.5% and her total income is $34,000, she pays ________ as tax
A) $5,500
B) $17,000
C) $4,250
D) $3,200
C
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If capital per worker rises
A) labor productivity decreases. B) no technological progress occurs. C) labor productivity increases. D) firms respond by raising their prices.
In 1975, Richard Petty won the NASCAR race in Richmond, earning $6265. In 2006, Dale Earnhardt, Jr., won the race, earning $239,166. The CPI index was 52.5 in 1975 and 198.7 in 2006 (base year = 1982-1984 )
Calculate the real earnings (based on base year 1982-1984 ) of both Petty and Earnhardt.
Economists generally agree on the role the government should play in promoting productivity and economic growth
a. True b. False Indicate whether the statement is true or false
Keynesians contend that in a recession caused by a decline in aggregate demand, a policy of increasing the nominal money supply would
A. not affect the position of the LM curve, because the real money supply would not change. B. raise the level of aggregate demand, which would help return the economy to full-employment output. C. shift the LM curve to left, which would help return the economy to full-employment output. D. lower the level of aggregate demand, which would help return the economy to full-employment output.