The Bush tax cuts of 2001-2010 reduced
A. The marginal tax rate for the highest income class to 10 percent.
B. Incentives for education.
C. Vertical inequities.
D. The top marginal tax rate from 39.6 percent to 35 percent.
Answer: D
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If a person works 10 percent fewer hours after being given a raise of 20 percent, the individual's elasticity of labor supply is:
A. 2. B. .5. C. ?.5. D. ?2.
If we let P = the domestic price of a basket of goods and Pf the foreign price of the same basket of goods measured in domestic currency:
A. You cannot determine the relative prices of foreign goods from the equation P/Pf . B. If P/Pf > 1 foreign products will seem inexpensive. C. If P/Pf >1 foreign products will seem expensive. D. If P/Pf = 1 the nominal exchange rate is also = 1.
The user cost of nonrenewable resources is:
A. The current cost of extracting and selling the resource B. The future cost of extracting and selling the resource C. The opportunity cost of extracting and selling the resource today instead of in the future D. The cost of future extraction and sale of a resource instead of current extraction and sale
Why is the Clayton Act of 1914 considered to have been favorable to the interests of organized labor?
(a) It restricted the application of the Sherman Antitrust Act and excluded labor unions from it. (b) It legalized collective bargaining for the first time. (c) It declared labor to be an article of commerce. (d) It forbade the use of injunctions by the courts to stop strikes.