What is the marginal tax rate of a lump-sum tax of $5,000?
The marginal tax rate would be $0 because once a person paid the lump-sum tax of $5,000, she would pay no additional tax on the next dollar earned.
Economics
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Which of the following statements about an entrepreneur is true?
A) develops the vision for the firm and funds the producing unit B) sells his entrepreneurial services in the output market C) does not face personal risk D) purchases other factors of production in the output market
Economics
The long-run response to an increase in the growth rate of the money supply is shown by shifting
a. the short-run and long-run Phillips curves left. b. the short-run and long-run Phillips curves right. c. only the short-run Phillips curve left. d. only the short-run Phillips curve right.
Economics