For a person earning $15,000, the marginal tax amount from 10,001 to $15,000 is:
A. $500
B. $750
C. $1,750
D. $2,000
B. $750
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If a union cannot increase the demand for union labor, then an increase in union wages will result in a decrease in union employment
Indicate whether the statement is true or false
For a perfectly competitive firm, average revenue is equal to
A) average fixed cost. B) marginal cost. C) the market price. D) total revenue.
Consider the game known as the Prisoner's Dilemma. What's the dilemma?
a. By both not confessing, both get to the cooperative solution and minimize time in prison. b. By both confessing, both get to the noncooperative solution and both serve significant time in prison. c. As a group, they are better off cooperating by not confessing, but each player has an incentive to be first to confess in a double cross. d. The problem is that the spies should never have been caught; they should move to Rio.
The statement that Computech's profits totaled $500 million last year represents the use of money as a:
a. medium of exchange. b. store of value. c. unit of account. d. means of coincidence.