________: the level of output per unit of input
Fill in the blank(s) with correct word
Productivity
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In 2010, the United States had a nominal GDP of $14,958 billion and a real GDP of $13,598 billion, what was the GDP deflator?
a. 100 b. 109 c. 110 d. 111
An assistance program that reduces payments by less than a $1 for each $1 earned might still be a disincentive to work. But even assuming that people would prefer to work than to receive government assistance, what problem would still remain?
a. Those receiving both pay and government support would quickly become too wealthy to participate in the program. b. Phasing support out more slowly would cost the government more than phasing it out quickly. c. The working poor on government assistance would still never escape the poverty trap. d. Phasing out support more slowly would reward the undeserving poor and the deserving poor equally.
Refer to the information provided in Figure 1.5 below to answer the question(s) that follow.
Figure 1.5Refer to Figure 1.5. Panel A shows a curve with a slope that is
A. positive and increasing. B. negative and decreasing. C. negative and increasing. D. positive and decreasing.
Refer to Scenario 19.1 below to answer the question(s) that follow. SCENARIO 19.1: An individual earning $60,000 pays $12,000 in taxes. The marginal tax rate on any income earned above $60,000 is 25%. Refer to Scenario 19.1. When this person earns $60,000, her average tax rate is
A. 5%. B. 20%. C. 25%. D. indeterminate from this information.