Bracket creep would be more likely occur in which of the following?

A) a progressive income tax system
B) a regressive income tax system
C) a flat income tax system
D) none of the above


A

Economics

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Refer to the figure above. Social surplus will be maximized if the quantity supplied of Good X is ________

A) Q1 B) Q2 C) greater than Q1 D) greater than Q2

Economics

A dramatic and sustained increase in oil prices would most likely:

A. increase demand-pull inflation. B. decrease demand-pull inflation. C. increase cost-push inflation. D. decrease cost-push inflation.

Economics

TFC=Total Fixed CostQ=Quantity of OutputMC=Marginal CostP=Product PriceTVC=Total Variable Cost   Refer to the above information. Total cost is:

A. .
B. TFC + TVC. 
C. the change in marginal cost.
D. TVC - TFC.

Economics

The monopolistic competition model assumes that:

A. allocative efficiency will be achieved. B. productive efficiency will be achieved. C. firms will engage in nonprice competition. D. firms will realize economic profits in the long run.

Economics