In which decade did the U.S. federal government first establish a system of agricultural price supports?
A. 1970s
B. 1930s
C. 1950s
D. 2000s
Answer: B
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A supply curve is the same as a
A) total cost curve. B) marginal cost curve. C) total benefit curve. D) marginal benefit curve. E) deadweight loss curve.
Suppose there is a simple tax system that says you pay 10% for income up to $10,000, 25% for income between $10,000 and $50,000, and 35% for all income above $50,000. Mr. Campbell has income of $72,000. Mrs. Campbell has income of $55,000.
(A) What is Mr. Campbell's individual tax liability? Mrs. Campbell's? (B) What is their liability if they file a joint return? (C) Is there a marriage penalty? If so, how much is it?
Sovereign debt crisis, a short-run phenomenon, may lead to the long-run consequence of debt ________
A) intolerance B) distortion C) seignorage D) repudiation
The optimal hiring rule is to employ labor up to the point where:
a. wage = MFC. b. wage = MP. c. wage = MR d. wage = MRP e. wage = TWC.