Refer to Table 20.1. George is a single taxpayer with an income of $65,000. If George earned one extra dollar of income, he would have paid an additional ________ in income tax

The extra pay people earn in exchange for undertaking risky or otherwise undesirable work is called

A) a compensating differential. B) arbitrage income. C) overtime pay. D) a fringe benefit.

Saying the consumer is rational means

A) the consumer is a stand-in for all consumers. B) the consumer is getting rationed. C) the consumer makes reasonable choices. D) the consumer makes the best choices.