The average tax rate can be calculated by which of the following formulas?
A) the change in taxes due divided by the change in taxable income
B) the change in taxable income divided by the change in taxes due
C) total taxes due divided by total taxable income
D) total taxable income divided by total taxes due
Answer: C
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When a monopolist is able to sell its product at different prices, it is engaging in
a. distribution pricing. b. quality-adjusted pricing. c. arbitrage. d. price discrimination.
Which of the following is an example of opportunity cost?
A. The income that could have been earned by working full-time instead of going to college. B. The decline in the grades of a student athlete that occurs because she decides to spend more time practicing sports than on her academic work. C. The value of other things you could have done with the same time and money it cost you to go to the movies. D. All of the choices are examples of opportunity cost.
For this question, assume that individuals hold both currency and checkable deposits. The money multiplier is equal to
A) 1/c. B) 1/[c + ?(1 - c)]. C) [c + ?(1 - c)]. D) 1/?. E) 1/(1-c)
An increase in the purchasing power of money would not, on average, result in an increase in the purchasing power of people's income because a ________ price level would likely mean ________ wages and salaries
A) falling; rising B) rising; falling C) falling; falling D) rising; rising