From the time of Benjamin Franklin to the present, the percentage of the average American's income that goes to pay taxes has
a. decreased from about 20 percent to about 10 percent.
b. remained constant at about 10 percent.
c. has risen from less than 2 percent to about 33.3 percent.
d. has risen from less than 5 percent to about 25 percent.
d
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The degree of operating leverage is equal to the ____ change in ____ divided by the ____ change in ____
a. percentage; sales; percentage; EBIT b. unit; sales; unit; EBIT c. percentage; EBIT; percentage; sales d. unit; EBIT; unit; sales e. none of the above
Suppose two goods (x and y) are being produced efficiently and that the production of x is always more labor intensive than the production of y. Production depends only on two factors (capital and labor); these may be smoothly substituted for each other. The total quantities of these inputs are fixed. An increase in the production of x and a decrease in the production of y will:
a. increase the capital-labor ratio in each firm. b. decrease the capital-labor ratio in each firm. c. leave the capital-labor ratio for each firm unchanged. d. increase the capital-labor ratio in y production and decrease the capital-labor ratio in x production.