If you pay $2,000 in taxes on an income of $20,000, and a tax of $3,500 on an income of $30,000, then over this range of income the tax is
A) regressive.
B) proportional.
C) progressive.
D) There is insufficient information to answer the question.
C
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Which point in the figure above is an attainable combination that would have unemployed resources?
A) point A B) point B C) point C D) point D E) point A and point B
The finding that U.S. exports tend to come from labor-intensive industries, while U.S. imports are produced using relatively capital intensive techniques is known as
A) the Leontief paradox. B) the balance of trade enigma. C) the Heckscher-Ohlin paradox. D) the Krugman finding.
Suppose you were given a gift of a gold mine that generates $1,000 of net income every year, indefinitely. And suppose the equilibrium rate of interest is 5 percent. What is the present value of that gold mine?
a. $20,000 b. $5,000 c. $50,000 d. $500,000 e. $10,000
The marginal cost curve for information is upward sloping because:
A. most information is misleading. B. there is only so much to learn about a product. C. most information is provided by sources that have a vested interest in offering false information. D. consumers tend to start with the least expensive sources of information and then progress to more expensive sources.