Tim earns income of $60,000 per year and pays $21,000 per year in taxes. Tim paid 20 percent in taxes on the first $30,000 he earned. What was the marginal tax rate on the second $30,000 he earned?

On a national level, the concentration ratio for grocery stores is very low. But, the "true" market for grocery stores is local in nature. What limitation does the geographic market put on the measure of concentration for grocery stores?

A) On the local level, grocery stores are more concentrated than they appear on the national level. B) On the local level, grocery stores are not as concentrated as they appear on the national level. C) The level of concentration is overestimated when viewing the national level. D) Both answers A and C are correct.

When Country X has high economic growth, this country has

A) a high level of real Gross Domestic Product (GDP). B) a high level of per capita real Gross Domestic Product (GDP). C) a large increase in per capita real Gross Domestic Product (GDP). D) a large increase in personal income.