How do economists measure the consumption of a good?
(A) The amount of a good that is bought for a specific amount of money.
(B) The amount of money spent to buy a good.
(C) The amount of a good that is bought.
(D) The amount of a good that is actually used rather than bought.
Ans: (C) The amount of a good that is bought.
Economics
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If your income is $50,000 . your income tax liability is $10,000 . and you paid $0.25 in taxes on the last dollar you earned, your
a. marginal tax rate is 20 percent. b. average tax rate is 5 percent. c. marginal tax rate is 25 percent. d. average tax rate is 25 percent.
Economics
Which of the following will NOT cause a rightward shift in the supply curve?
A) an improvement in technology B) a reduction in resource costs C) a reduction in the expected future price D) none of the above
Economics