Use the information provided in Exhibit 11-4. If a person’s taxable income is $110,000, how much does he pay in taxes?
A) $21,750
B) $33,000
C) $24,750
D) $48,000
Answer: C) $24,750
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The opportunity cost of increased production of some good can be measured with
A. the slope of a ray to the production possibilities curve. B. the area under the curve of a production possibilities curve. C. the area of the rectangle bounded by the axes and the point on the production possibilities curve. D. the slope of the production possibilities curve. E. All of the responses are correct.
In the monetarist view, if the money supply has been rising too quickly for years, the resulting inflation can be brought under control by slowing money growth. This will
a. quickly reduce inflation with no side effects. b. quickly reduce inflation with higher unemployment. c. increase unemployment depending upon how quickly the public changes their expected price level. d. slowly reduce inflation with higher unemployment. e. both c and d.
A firm's markup over its marginal cost is greater:
A. the more elastic is the demand curve. B. the less elastic is the demand curve. C. the lower its fixed costs. D. the lower its average costs.
The real interest rate can be negative
a. True b. False Indicate whether the statement is true or false