Which of the following is a progressive tax?
A. The Social Security tax.
B. The federal income tax.
C. Local property taxes.
D. Local sales taxes.
Answer: B
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As the economy enters a strong expansion, then firms' demand for loanable funds
A) increases because the nominal interest rate rises. B) increases because expected profit increases. C) decreases because expected profit decreases. D) decreases because the nominal interest rate falls. E) increases because the real interest rate rises.
In the above figure, through which range would the demand for this good be most inelastic?
A) A-B B) B-E C) E-F D) G-H
A demand relationship in which a given percentage change in price will result in a larger percentage change in quantity demanded is
A. elastic. B. unit-elastic. C. inelastic. D. consistent with zero elasticity.
Refer to the figure above. If the monopolist is regulated to charge the fair-returns price for the profit-maximizing output it produces, ________
A) it makes a profit of $100 B) it makes a profit of $200 C) it makes a loss of $100 D) it makes zero profit