The average tax rate is defined as
A. total tax due/change in taxable income.
B. total tax due/total taxable income.
C. change in taxes due/total taxable income.
D. change in taxes due/change in taxable income.
Answer: B
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If a monopolist decides to charge a higher price for its product, it will yield:
A) a lower revenue per unit sold but a higher number of units sold. B) a lower revenue per unit sold and a lower number of units sold. C) a higher revenue per unit sold but a lower number of units sold. D) a higher revenue per unit sold and a higher number of units sold.
Do changes in relative inflation rates affect the value of a nation’s currency?
What will be an ideal response?
Buyers who were originally willing to buy 800 units of a good at $4 per unit are now willing to buy 1200 units at $4 per unit. That change would be described as: a. an increase in demand
b. a decrease in demand. c. an increase in quantity demanded. d. a decrease in quantity demanded.
A lower real interest rate typically induces consumers to:
A. Save more B. Buy fewer imported goods C. Purchase more goods that are bought using credit D. Purchase fewer goods that are bought without using credit