Consider two people, Sandy Ross, who earns $25,000 . and Gary Belcher, who earns $50,000 . If the flat-tax rate is 20 percent, then:
a. the government collects a total of $20,000.
b. Gary pays twice the tax amount Sandy pays.
c. Gary pays three times the tax amount Sandy pays.
d. Gary and Sandy pay exactly the same tax amount.
e. Gary pays $15,000 in taxes.
b
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The fastest growing component of the annual federal budgets since 2000 is
A) entitlement payments. B) the education budget. C) funding for NASA. D) funding for health research.
The 2012 box office receipts for the movie The Avengers were $1,515.8 million. By way of comparison, the 1977 receipts for Star Wars were $798.0 million. If the Consumer Price Index was 60.6 in 1977 and 229.6 in 2012, which of the following is true?
a. The real receipts of The Avengers were almost four times greater than those for Star Wars. b. The real receipts of Star Wars were nearly two times greater than those for The Avengers. c. The real receipts of The Avengers were one-third of those for Star Wars. d. The real receipts of Star Wars were about 33 percent greater than those for The Avengers.
One of the conditions that must exist for the median-voter theorem to hold is:
A. candidates win by majority vote. B. voters may vote for a policy even if it not close to their own beliefs. C. there must be a run-off election in the event of a tie vote between two or more candidates. D. there is a simple in-favor/not-in-favor position held by each candidate.
A firm that incurs an emissions charge for polluting will install more pollution control equipment only if the:
a) Emissions charge exceeds the increased cost of installing the equipment. b) Emissions charge falls. c) Equipment will reduce pollution. d) Equipment cost is less than the marginal cost of production.