Asymmetric information refers to differences in information possessed by parties engaged in trade
Indicate whether the statement is true or false
T
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Based on the information in the table, how big is the labor force? Population 16 and older1,000,000Participation Rate80%Employed Workers720,000
A. 576,000 B. 1,000,000 C. 800,000 D. 720,000
A worker pays a tax for Social Security at a constant rate up until a certain level of income is reached. Beyond that income level, no more Social Security tax is paid. The Social Security tax is an example of a
A) progressive tax. B) regressive tax. C) proportional tax. D) sales tax.
In the late-19th century, farmers blamed their problems on a number of factors. Which of these complaints is supported (somewhat) by quantitative evidence gathered by economic historians?
a. Eastern bankers conspired to inflate interest rates on western farm mortgages. b. Manufacturers charged unreasonably high prices for farm equipment. c. Consumer goods prices were rising too rapidly. d. Certain sections of railroad were monopolized, resulting in unreasonably high freight rates.
Which of the following is a desirable property of money?
a. Scarcity. b. Portability. c. Divisibility. d. All of these.