Modern macroeconomics
A. does not do well explaining the reasons for growth
B. focuses on theories of firm entry and exit from the market
C. has eliminated poverty
D. can be defined as the study of money
Ans: A. does not do well explaining the reasons for growth
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If your income is $40,000 and your income tax liability is $5,000 . your marginal tax rate is
a. 8 percent. b. 12.5 percent. c. 20 percent. d. unknown. We do not have enough information to answer this question.
Which of the following is an example of satisficing behavior?
a. You continue studying for your economics exam until you believe you'll get a score that's good enough. b. You spend time looking over the lettuce at the grocery store in order to make sure you get the best head of lettuce. c. You clean your room to the point where you think it's clean enough that further time can be used for more productive purposes. d. You carefully plan your day in order to get "the most out of life."