When you see a mansion and think to yourself that it must be worth a million dollars, you are using money to perform which function?
A) medium of exchange
B) unit of account
C) store of value
D) means of payment
E) method of avoiding barter
B
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For a person earning $75,000, the marginal tax rate for the amount from 10,001 to $15,000 is:
A. 10%
B. 15%
C. 25%
D. 27.5%
In the classical model, the government needs to worry about total spending
a. True b. False
A decrease in quantity supplied
a. results in a movement downward and to the left along a fixed supply curve. b. results in a movement upward and to the right along a fixed supply curve. c. shifts the supply curve to the left. d. shifts the supply curve to the right.
The following table provides information about production at the XYZ-TV Company.Number of WorkersTVs ProducedMarginal ProductValue of Marginal Product00------13535$35,00026833$33,00039931$31,000412829$29,000515527$27,000 How many workers will XYZ-TV Company hire if the going wage for TV production workers is $28,000?
A. 1 B. 2 C. 4 D. 3