If Dell and Toshiba computers are substitutes and the price of dell computers increases we would expect to see
a. An increase in demand for Toshiba computers
b. An decrease in demand for Toshiba computers
c. An increase in the quantity of Toshiba computers demanded
d. An decrease in the quantity of Toshiba computers demanded
a
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Suppose the government used the following formula to compute a family's tax liability: Taxes owed = 28% of income - $8,000 . How much would a family that earned $75,000 owe?
The Fed's first forward guidance in 2009 was framed in terms of keeping interest rates low
A. for an extended period. B. at least until a particular date in the future. C. based on outcomes for the unemployment rate and inflation rate. D. until the next Presidential election.
The chaebols encouraged the Korean government to open up Korean financial markets to foreign capital. The Korean government responded by
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If the tax doubles to $24, the distortion
Suppose the supply of labor is W – t = 10H, where W is the gross wage, t is the tax (in dollars), and H is labor hours. The demand for labor is W = 120 – 2H. a) declines b) remains the same c) doubles d) triples e) quadruples