Hourly wages in Mexico are ____________ those paid in the United States for comparable work.
A. equal to
B. one half
C. one quarter
D. one eighth
D. one eighth
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Which of the following is not an important difference between privately-owned enterprises and government institutions?
A) Decision makers confront different sets of incentives. B) Different kinds of information are available to decision makers. C) Government has the generally acknowledged right to use coercion. D) Self-seeking motives are less characteristic of government employees.
Refer to Table 13-2. What is the marginal profit from producing and selling the 5th case?
A) $275 B) $145 C) $35 D) $20
In the long run, holding all else constant, inflation requires a decrease in the money supply relative to the output of goods and services—not enough money chasing too many goods
Indicate whether the statement is true or false
Which of the following would indicate that an income tax is progressive?
a. high-income people pay $3,000 . low-income people pay $1,000 b. low-income people pay $3,000 . high-income people pay $1,000 c. high-income and low-income people all pay $1000 each d. high-income people pay 20 percent of their income in taxes; low-income people pay 10 percent e. both high-income and low-income people pay 10 percent of their income in taxes