The marginal tax rate is
A. the percentage of all dollars of income paid in tax.
B. the percentage of the last dollar of income paid in tax.
C. the percentage of all dollars of income paid in tax and the percentage of the last dollar of income paid in tax.
D. the percentage of all taxable dollars of income paid in tax.
Answer: B
Economics
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The best measure of the standard of living is
A) nominal GDP. B) real GDP. C) nominal GDP per capita. D) real GDP per capita.
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The equilibrium quantity of money in circulation is determined by the:
A. nominal interest rate, real income, and the price level. B. decentralized interactions between households and businesses. C. interaction of an upward-sloping money supply curve and a downward-sloping money demand curve. D. Federal Reserve.
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