Suppose interest rates are kept very low for a long time such that there is a spike in the amount of lending. Everything else held constant, this could cause ________ bubble

If leisure is a normal good, then the income effect of a decrease in wage will

A) decrease the number of hours worked. B) increase the number of hours worked. C) decrease the number of leisure hours. D) increase the sum of leisure plus hours worked.

If taxes are $2,000 when income is $15,000 and they are $3,000 when income is $19,000, then the marginal tax rate is:

A. 20 percent B. 25 percent C. 30 percent D. 40 percent