The total amount of taxes paid divided by before-tax income is the
A) median taxpayer rate.
B) rate of hysteresis.
C) average tax rate.
D) marginal tax rate.
C
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Recently, the government made adjustments to how GDP is calculated that included placing software purchases into the category of
A) intermediate goods because software is not a final good. B) inventory and now software purchases are not directly counted as part of GDP. C) investment and now directly counts software purchases as part of GDP. D) net exports of goods and services because most software is written abroad. E) net operating surplus.
The table above shows the production possibilities frontier for the nation of Isolanda
a) Find the marginal cost of a pound of fish using the above PPF. b) How does the marginal cost of a pound of fish change as more fish are caught?