During the postbellum period of U.S. history,
(a) the U.S. balance of payments experienced a deficit throughout the entire period.
(b) manufacturing exports became the top foreign exchange earner.
(c) cotton exports continued to be the top foreign exchange earner.
(d) the U.S. never borrowed from foreigners.
(c)
Economics
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The total amount of taxes paid divided by before-tax income is the
A) median taxpayer rate. B) rate of hysteresis. C) average tax rate. D) marginal tax rate.
Economics
If Q represents a firm's level of output, W represents the wage paid to labor (L) and R is the cost of capital (K), then which of the following represents the firm's isocost line?
A. C = FC + VC(Q) B. C = FC(Q) + VC(Q) C. C = WL + RK D. C = (W + R)Q
Economics