Research conducted by Justin Wolfers and Betsey Stevenson shows that as GDP increased, respondents reported all of the following except
A) fewer choices over how they spend their time.
B) less physical pain and depression.
C) more general enjoyment.
D) being treated with greater respect.
A
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According to economic theory, a politician
A) expands activities whose marginal benefit exceeds marginal cost. B) contracts activities whose marginal cost exceeds marginal benefit. C) does not necessarily act on narrow or selfish interests. D) does all of the above. E) does none of the above.
The number one cause of death in the United States in 1980 was
a. AIDS. b. heart disease. c. cancer. d. stroke. e. homicide and accidents.
Answer the next question on the basis of the following five schedules, all of which represent income tax schedules for an economy. All figures are in billions of dollars.IIIIIIIVVTaxBase (Income)TaxBase (Income)TaxBase (Income)TaxBase (Income)TaxBase (Income)$30$100$10$100$5$100$30$100$10$10050200202001520060200302006030030300303009030060300704004040050400120400100400Which of the above schedules represent(s) a progressive tax?
A. III and V B. III only C. II and III D. V only
Economic profit is the difference between a firm's revenue and its opportunity costs
Indicate whether the statement is true or false