If a family earned $10,000 and, as a consequence, sustained a reduction of $4,000 in government benefits, the family's implicit marginal tax rate would be
a. 10 percent.
b. 40 percent.
c. 60 percent.
d. 75 percent.
B
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Based on the figure above, as a result of international trade, U.S. domestic production ________ airplanes per year
A) decreases by 200 B) increases by 300 C) decreases by 100 D) increases by 500 E) increases by 200
The state of Florida is considering putting an excise tax on either good X or good Y. An economist discovers the supply of good X is more elastic than the supply of good Y, while the demand elasticities are identical. Which good should Florida tax in order to minimize the deadweight loss of the tax?
Evaluating risk requires that:
A. we consider uncertain costs or benefits of an event or choice. B. we think about different possible outcomes. C. we accept that our best guess about future costs and benefits could be wrong. D. All of these statements are true.
Explain the reasons for export pessimism in Latin American countries
What will be an ideal response?