Which of the following would most likely increase the supply of college textbooks?
a. five major publishers go out of business
b. paper costs double
c. the wage rate of printers increases
d. producers expect the price to rise in the future
e. technology of book production improves
E
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Explain two concepts of central bank independence. Is the Fed politically independent? Why do economists think central bank independence is important?
What will be an ideal response?
Ms. Mahmood is a retired schoolteacher whose pension income is $25,000 per year. She also receives Social Security income of $5,000 per year. Mr. Little is a young man who does not choose to work. He inherited $600,000 from his Aunt Clara, which he invested in a bond fund that provides a 5 percent return, generating $30,000 income per year. If we are concerned about the equity of taxation, should we consider these two people as equals and tax them equally? Explain why or why not.
What will be an ideal response?
Vertical equity in income taxation refers to the notion that persons with different levels of income should be taxed differently
a. True b. False Indicate whether the statement is true or false
A dedicated professor loves being in the classroom and would teach for $50,000 per year, but she is actually paid $80,000 per year. This individual
A. receives economic rent of $30,000. B. has an opportunity cost of $30,000. C. receives economic rent of $130,000. D. has an opportunity cost of $130,000.