In a progressive tax system
A. the marginal tax rate and the average tax rate decrease as income levels increase and the marginal tax rate is less than the average tax rate.
B. the marginal tax rate and the average tax rate increase as income levels increase and the marginal tax rate exceeds the average tax rate.
C. the marginal tax rate increase as income increases but the average tax rate does not change as income increases.
D. the marginal tax rate and the average tax rate are the same for every income level and the same as income increases.
Answer: B
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The real income per capita is a measure of the
A) well-being of every individual in the nation. B) well-being of the average individual in the nation. C) well-being of the average employed person in the nation. D) total well-being of the nation.
Which of the following statement(s) most likely describes the outcome of a change in price?
a. A change in the price of a good never causes the demand curve for that good to shift. b. A change in the price of a good never causes the demand or supply curve for that good to shift. c. A change in the price of a good never causes the supply curve for that good to shift. d. A change in the price of a good causes the demand and supply curves for that good to shift.
The ________ view says that fiscal stimulus has a multiplier effect that makes it a ________ tool to fight a deep recession
A) Keynesian; weak B) "free lunch"; powerful C) Keynesian; powerful D) mainstream; powerful E) None of the above answers is correct.
Marginal revenue product is defined as the amount that an additional unit of the variable input adds to ____
a. marginal revenue b. total output c. total revenue d. marginal product e. none of the above