Traditionally, nations pegged their currencies to _______, and so trade was accomplished with _______ exchange rates.

A marginal tax rate is calculated as

A) change in taxes paid ÷ the change in total taxable income. B) change in taxable income ÷ change in taxes paid. C) taxes paid ÷ total taxable income. D) total taxable income ÷ by taxes paid.

Along an upward-sloping labor supply curve, as the wage rate increases, the opportunity cost of leisure ________, causing individuals to supply a ________ quantity of labor

A) decreases; greater B) increases; greater C) remains constant, constant D) increases; lower