Refer to the above graph. It shows the cost curves for a competitive firm. At output level 20, the marginal cost is:

Compare the views of Keynesian and mainstream economists on the effects fiscal stimulus has on real GDP and employment

What will be an ideal response?

Katie had a before-tax income of $40,000 and paid taxes of $6,000 . Rinji had a before-tax income of $35,000 and paid taxes of $5,250 . Based on this information, the tax system is

a. There is insufficient information to answer the question. b. progressive c. based on the benefits received d. regressive e. proportional