Under the most likely future scenario, the Medicare payroll tax would have to rise to
A. 6.60% imposed upon employers.
B. 3.30% imposed upon employers.
C. 6.60% imposed upon employees.
D. 3.30% imposed upon employers and 3.30% imposed upon employees.
Answer: D
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If marginal productivity is increasing, then total product is
A) increasing at an increasing speed. B) increasing at a constant speed. C) increasing at a decreasing speed. D) decreasing at an increasing speed.
Suppose capital and labor are perfect substitutes resulting in a production function of q = K + L. That is, the isoquants are straight lines with a slope of -1
Derive the long-run total cost function TC = C(q) when the wage rate is w and the rental rate on capital is r.
The granting of small, unsecured loans to small businesses and entrepreneurs is known as
A. Extreme finance. B. Long-term finance. C. Microfinance. D. Growth finance.
A common criticism of central banks in developing nations led by despotic dictatorships is that they lack
A. independence of political influence. B. corruption. C. an understanding of economics. D. control by political parties.