The tax represented is:
A. optimal.
B. proportional.
C. regressive.
D. progressive.
D. progressive.
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The figure above shows the demand for and supply of rental housing in Smallton. If a rent ceiling is set at $800, how many apartment units are rented?
A) 2,000 B) 3,000 C) 4,000 D) None of the above answers is correct.
The supply of workers in an industry is influenced by the available working population and the nonmonetary attractiveness of the job
a. True b. False Indicate whether the statement is true or false
You paid $35 for a ticket (which is non-refundable) to see SPAM, a local rock band, in concert on Saturday. Assume that $35 is the most you would have been willing to pay for a ticket. Your boss called, and she is looking for someone to cover a shift on Saturday at the same time as the concert. You would have to work 4 hours and she would pay you $11/hr. The psychic cost to you of working is $2/hr. Your economic surplus from going to work instead of seeing SPAM on Saturday is:
A. $1 B. $36 C. $0 D. $35
Mathematically, the value of the tax multiplier in terms of the marginal propensity to consume (MPC) is given by the formula:
A. MPC ? 1. B. (MPC ? 1) / MPC. C. 1 / MPC. D. 1 ? [1 / (1 ? MPC)].