In the United States, the IRS estimates that about one ____ of individual income tax due to the federal government is not paid.
Fill in the blank(s) with the appropriate word(s)
Answer: Fifth
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If a firm produces 20 units of output and incurs a total cost of $1,000 and a variable cost is $700, calculate the firm's average fixed cost of production if it expands output to 25 units
A) $300 B) $15 C) $12 D) It is impossible to determine without additional information.
Refer to Table 26-5. Suppose the table above illustrates the values of real and potential GDP and the price level if the Fed does not vote to change their current policy to be more contractionary or expansionary
Suppose that the Fed uses an appropriate policy and is successful in keeping real GDP at potential in 2017. State whether each of the following will be higher or lower than if the Fed had taken no action: a. Real GDP b. Potential real GDP c. The price level d. The unemployment rate
What is the term economists use to discuss cost on a per-unit-of-output basis?
a. short-run cost b. fixed cost c. variable margin cost d. average total cost
Limits on the quantity of a foreign good that can be imported into the domestic market are
A. import capacity limits. B. import quotas. C. tariffs. D. export quotas.