Ball's research showed that the sacrifice ratio
A) was the same for all countries.
B) was nearly zero for most countries.
C) was about 10 for all countries except the United States, where it was about 2.
D) varied considerably across countries.
D
You might also like to view...
Suppose that the government taxes income in the following fashion: 20 percent of the first $50,000 . 40 percent of the next $50,000 . and 60 percent of all income over $100,000 . Marshall earns $200,000 . and Lily earns $600,000 . Which of the following statements is correct?
a. Marshall's marginal tax rate is higher than Lily's marginal tax rate. b. Marshall's average tax rate is higher than his marginal tax rate. c. Lily's average tax rate is higher than her marginal tax rate. d. Lily's average tax rate is higher than Marshall's average tax rate.
Economists assume that individuals consume products to:
a. minimize cost. b. maximize total utility. c. maximize consumption. d. minimize marginal utility.