Claire Quinn has a marginal tax rate of 33 percent on her federal personal income tax. Her average tax rate is
A. more than 33%.
B. also 33%.
C. less than 33%.
D. zero.
C. less than 33%.
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Giving the Fed a high degree of independence means all but:
A. the Fed governors will not be as tempted by political pressure. B. it is less likely to expand the money supply simply to make it cheaper for the government to repay its debt. C. technocrats-rather than politicians-are in charge, which tends to increase people's trust in the stability of the dollar. D. The federal government will not have to borrow to finance its budget deficit.
A leading game-console manufacturer slashes the price of its flagship product by ten percent. Holding other things such as income and preferences constant, which of the following is the most likely group behavior prediction? a. Price reduction will have no impact on purchase patterns
b. Price reduction will be associated with a reduction in quality; thereby reducing sales. c. More game consoles will be sold at lower prices. d. Group behavior cannot be predicted.
Knowing the number of firms in a market is the only information needed to identify the structure of that market
a. True b. False
Most economists believe price ceilings ______________
A. do more harm than good. B. have no impact on the market. C. do more good than harm. D. are necessary to protect consumers.