The federal income tax in the United States fits the description of which of the following tax structures?
A. Proportional
B. It depends on the income of the individual being taxed.
C. Regressive
D. Progressive
Answer: D
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Suppose that the nominal exchange rate between the U.S. dollar and the Mexican peso is 0.10 dollars per peso. If Mexico's inflation is 10 percent and the United States' inflation is 0 percent, from the U.S. point of view, the real exchange rate
A) appreciates to 0.11 dollars per peso. B) depreciates to 0.11 dollars per peso. C) appreciates to 0.09 dollars per peso. D) depreciates to 0.09 dollars per peso. E) appreciates to 0.2 dollars per peso.
In game theory, a prisoner’s dilemma
A. never has a dominant strategy. B. is equivalent to a Nash equilibrium. C. always has the best result for the players when game is played repeatedly. D. is a game that has a preferred outcome for the players that is not an equilibrium.
Producing an additional unit whose marginal cost exceeds the average total cost incurred thus far has the effect of pulling the
A. average cost up. B. average cost down. C. fixed cost up. D. total cost down.
An international agreement reached in 1994 by the world's trading nations provides for:
A. an increase in export subsidies on agricultural products. B. an increase in agricultural price supports. C. a reduction of tariffs on agricultural products. D. an international research organization designed to discover nonfood uses of agricultural output.