For a person earning $15,000, the average tax rate is:

In the basic closed-economy ISLM model, the LM curve can be described by an equation where

A) output is a function of consumption. B) money is a function of interest rates. C) output is a function of money. D) interest rate is a function of output.

If Kami can produce 40 tablets or 30 cellphones during a month's time, while Sally can produce 10 tablets or 20 cellphones, then it is correct to state that

A) Kami has a comparative advantage in producing tablets. B) Kami has a comparative advantage in producing both tablets and cellphones. C) Sally has a comparative advantage in producing both tablets and cellphones. D) Sally has an absolute advantage in tablets.