Compared to the situation prior to 1980, the top marginal personal income tax rate imposed on the rich is now substantially
a. lower and so is the share of the revenue collected from them.
b. higher and so is the share of the revenue collected from them.
c. lower, but the share of the revenue collected from them is now higher.
d. higher, but the share of the revenue collected from them is now lower.
C
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At full employment, there is no
A) structural unemployment. B) frictional unemployment. C) unemployment. D) structural and seasonal unemployment. E) cyclical unemployment.
Most changes in tax laws tend to be small changes because _____
a. the organizing costs of large coalitions are too high b. logrolling is easier when tax laws effect only a small number of individuals c. special interests are constantly demanding changes that will benefit them d. of the rules of the Senate
If the supply of labor to a firm is perfectly elastic at the going wage rate established by the forces of supply and demand then
A) the firm is price taker. B) the firm can only hire additional units of labor by driving the wage rate up. C) the wage rate has been decreasing. D) full employment exists in the labor market.
This table shows price and quantity produced for a single firm in a perfectly competitive market.PriceQuantity$1023$1024$1025$1026Given the information in the table shown, what is the total revenue when 23 units are produced?
A. $230 B. $2.30 C. $10 D. $23