Any increase in efficiency increases output available for distribution.
Answer the following statement true (T) or false (F)
True
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The Federal Reserve System began operations in
A) 1834. B) 1896. C) 1914. D) 1935.
The marginal tax rate is:
A. less than the average tax rate when a tax is progressive. B. calculated by dividing total taxes paid by one's total taxable income. C. the percentage of one's total income that is paid in taxes. D. the percentage of an increment of income that is paid in taxes.
David has just ordered a smartphone only to be told that she will have to wait one month for it to be delivered. Which of the following statements is TRUE?
A) The smartphone is not a scarce good. B) The smartphone is an economic good. C) The smartphone is human capital. D) The smartphone is an intangible good.
In 2000, Italy's per-capita GDP was ________ percent ________ than the EU-27 average.
A. 18; higher B. 6; lower C. 36; lower D. 24; higher