The marginal propensity to consume is assumed to be

The use of a property tax to fund public schools is an example of _____

a. the benefit principle at work b. the ability-to-pay principle at work c. a compromise between the benefit and ability-to-pay principles d. the Ramsey rule at work

A restaurant hires cooks and waiters. Cooks earn $10 an hour; waiters earn $5 an hour. The manager, who wants to maximize the number of meals served given a fixed payroll of $45 per hour, expects the following from cooks and waiters:  Given the above information, at the optimal choice, the last dollar spent on hiring waiters yielded

A. 16 additional meals. B. 6 additional meals. C. 60 additional meals. D. 80 additional meals. E. none of the above