Approximately 50,000 luxury boats (priced $100,000 or more) are currently produced each year. Using the economic way of thinking, how much revenue would the government actually generate with a $10,000 excise tax on luxury boats?

The real wage

A) is the nominal wage divided by the price level. B) automatically increases with the cost of living. C) is the price level divided by the nominal wage. D) is the nominal wage multiplied by the price level.

Capital deepening refers to: a. an increase in the amount of capital per worker

b. an increase in the amount of workers per unit of capital. c. a decrease in the amount of capital per unit of output. d. an increase in the amount of output per unit of capital. e. an increase in the productivity of capital.