As a proportion of domestic output, taxes in the United States:
A. are lower than in most other industrially advanced countries.
B. are higher than in most other industrially advanced countries.
C. are approximately the same as in most other industrially advanced countries.
D. doubled in the 1990s.
Answer: A
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A small economy increased its capital per hour worked (K/L) from $40,000 to $50,000. As a result, real GDP per worker (Y/L) grew from $20,000 to $25,000
If the economy increases its capital per hour worked by another $10,000 to $60,000, but there is no change in technology, by how much more and in what direction will output per worker change? A) Output per worker will increase by less than $5,000. B) Output per worker will increase by exactly $5,000. C) Output per worker will fall by more than $5,000. D) Output per worker will increase by more than $5,000.
Which of the following is an employer mandate in the new the federal government's new national health care program?
A) Under the new program, the federal government will coordinate the establishment of health insurance exchanges. B) A tax rate of 3.8 percent will be assessed on nearly all earnings above $200,000 per year for individuals and above $250,000 per year for married couples. C) Firms with at least 50 employees must either provide health insurance or pay fines when uninsured employees receive tax subsidies to purchase insurance. D) Nearly all U.S. residents must either purchase health insurance coverage or pay a fine of up to $750 per year for an individual (up to $2,250 per year for a family).