What is the current, annual, approximate amount per person paid to the federal government in individual income taxes, social insurance taxes, corporate income taxes, and other taxes?
a little more than $10,000 ($10,235 in 2014)
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Explain why a minimum wage creates an inefficient allocation of labor resources
What will be an ideal response?
Expansionary fiscal policy will shift the AD curve leftward
Indicate whether the statement is true or false
As a result of emancipation,
(a) black labor force participation increased by 1/3. (b) black labor force participation declined by 1/3. (c) amazingly, black labor force participation remained essentially unchanged. (d) average wages of black workers rose well above those of their immigrant counterparts.
A fundamental axiom of rational choice theory is
A. consumers should be risk-neutral. B. consumers should disregard recent performance data. C. choices should be independent of irrelevant alternatives. D. choices should be independent of relevant alternatives.