In 2011, the top 1 percent of all taxpayers in the United States faced an overall federal tax rate of:
A. 39.6 percent.
B. 60.9 percent.
C. 33.0 percent.
D. 29.0 percent.
Answer: D
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If the economy is represented in the graph shown and is currently at point E1, what could be said about the state of the economy?
A. There is higher unemployment than the natural rate.
B. There is lower unemployment than the natural rate.
C. The unemployment rate is just about the natural rate.
D. The unemployment rate is zero.
In a Bertrand model, market power is a function of
A) marginal cost. B) the number of firms. C) price elasticity of supply. D) product differentiation.
The definition of efficiency implies that production is carried out on the production possibilities frontier.
Answer the following statement true (T) or false (F)
In the figure above, what is Gap's markup?
A) $50 B) $15 C) $35 D) zero