The top 1% of income earners in the U.S. (those with the highest taxable incomes) pay
A) about the same percentage of their incomes in taxes as the average U.S. taxpayer.
B) a much lower percentage of their incomes in taxes than the average U.S. taxpayer.
C) a much higher percentage of their incomes in taxes than the average U.S. taxpayer.
D) about 15 percent of their incomes in income taxes
E) a and d
C
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In an economy with 4,000 unemployed people and 8,000 employed people, the unemployment rate is
a. 50.0 percent b. 40.0 percent c. 33.3 percent d. 60.0 percent e. 25.0 percent
A firm that is a natural monopoly
a. is not likely to be concerned about new entrants eroding its monopoly power. b. is taking advantage of economies of scale. c. would experience a higher average total cost if more firms entered the market. d. All of the above are correct.