Refer to Figure 8.9. At the market price of $18 per bushel, if this farmer produces 350 bales of hay, the total revenue would be
A) $1,200.
B) $2,800.
C) $5,600.
D) $6,300.
D) $6,300.
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In the United States in 2014, about seventy percent of those who were not covered by health insurance
A) live in families in which at least one member has a job. B) live in families in which all members are unemployed. C) are single and unemployed. D) are retired from the workforce.
Which of the following statements about utility and preferences is false?
A) If Sidra prefers tea to coffee and coffee to hot chocolate, then she must prefer tea to hot chocolate. B) If two individuals, Ingrid and Inez, each consume the same bundle of goods, then both Inez and Ingrid must receive the same utility from the bundle. C) Utility cannot be compared across consumers. D) Preferences can be ranked.
The "ability-to-pay" principle of taxation is the normative idea that
A) an equitable tax system is one in which high income individuals should bear a greater burden of taxes than low income individuals. B) two individuals earning the same income should have equal ability to pay, all else constant. C) each individual should voluntarily contribute according to her ability to pay taxes. D) progressive taxes are more equitable than regressive taxes.
According to Hughes and Cain (2011), today's growth in white-collar jobs is fueled by investments in education and does not depend on apprentice-style training or land holdings
Indicate whether the statement is true or false