Harry spent $39,000 in 2009 and $42,000 in 2014 on goods and services. The consumer price index was 220 for 2009 and 231 for 2014 . Harry's 2009 spending in 2014 dollars is about

In the above figure, the economy initially is at point B. Then price level rises by 10. The wealth effect will help

A) move the economy to point A. B) move the economy to point C. C) move the economy to point D. D) keep the economy to point B.

Under a progressive income tax system, the marginal income tax rate paid by taxpayers

A) declines as their incomes increase. B) rises as their incomes increase. C) is unchanged as their incomes increase. D) is unrelated to their incomes.