The marginal tax rates on the richest Americans when Ronald Reagan was elected and when he left office were
a. 28 percent and 50 percent, respectively.
b. 70 percent and 40 percent, respectively.
c. 40 percent and 70 percent, respectively.
d. 50 percent and 28 percent, respectively.
d
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Dumping occurs when a firm
A) sells too much of a good in a foreign country. B) sells in a foreign country at prices that are below fair value. C) sells in its home market at prices that are below the average price charged by its competitors. D) sells in a foreign market at prices that are below the prices charged by firms based in the foreign market. E) charges more than a fair price.
If the consumer's budget constraint is given by 10F + 5S = 100 where F is food and S is shelter, what is the opportunity cost of food in terms of shelter?
A. 2 B. 10 C. 15 D. 5
Suppose an MP3 player sells for $75 in the United States and 50 pounds in Britain. Which exchange rate is consistent with purchasing power parity?
a) 1.50 pounds for $1. b) 1 pound for $1.50. c) 3 pounds for $1. d) 1 pound for $1.
Exhibit 11-11 Labor wage and cost data Labor Wage TWC MFC10 $ $ 50.00 $ 11 5.80 12 17.80 13 102.70 14 126.00 15 46.50 In Exhibit 11-11, the total wage cost of hiring 12 employees is equal to:
A. $17.80. B. $63.80. C. $102.70. D. $81.60.