If vouchers for a good or service given to consumers, then the supply curve ________ and the demand curve ________
A) shifts leftward; shifts leftward
B) shifts leftward; shifts rightward
C) shifts rightward; shifts rightward
D) does not shift; shifts rightward
E) shifts rightward; does not shift
D
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If the dollar price of the English pound goes from $1.50 to $1.75, the dollar has
What will be an ideal response?
If FICA takes the same percentage rate of everyone’s pay, how can it take a higher proportion of the income of lower earners?
a. Lower earners have to pay the full amount, whereas higher earners’ employers pay half. b. The income from which FICA is taken is capped, so higher earners are not taxed on earnings above that amount. c. Lower earners are required to pay FICA during the year, and again as part of income taxes at the end of the year. d. FICA is only taken from hourly wages, so salaried workers, who usually earn higher incomes, do not have to pay it.
________: consists of provisions to remove both tariff and nontariff barriers to trade with members, while retaining individual trade barriers with nonmember nations
Fill in the blank(s) with correct word
Economists infer that a consumer receives more utility from one good than another by
A. observing the consumer's behavior. B. giving consumers surveys about the utility they receive from the goods. C. means of introspection and speculation. D. the logic of the models used.