Above a certain income, the marginal social security tax drops to zero.
Answer the following statement true (T) or false (F)
True
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Which of the following pairs of goods is likely to be considered complements?
A) Nokia and Samsung cell phones B) Laptops and electric heaters C) Motorcycles and typewriters D) Pens and writing pads
As a firm in monopolistic competition sets the price for its product, the firm faces a tradeoff between
A) supply and demand. B) efficiency and equity. C) internal and external economies of scale. D) price and the quantity it can sell. E) its marginal revenue and its price.
Absolute advantage is the ability of a country to produce a good with ________ than another country
a. a lower opportunity cost b. a higher opportunity cost c. fewer resources d. more resources
If airfares to Europe were to increase, other things equal, an economist would predict that: a. most people will not change their travel and vacation plans
b. more individuals will choose to fly to Europe because now it is a more valuable experience. c. some individuals will substitute toward other travel destinations. d. airlines will make significantly greater profits.