The excess burden of an income tax is a function of the _____

Suppose the population of Tiny Town is 100 people and the working age population is 70. If 10 of these people are unemployed, the unemployment rate in Tiny Town is

A) 10 percent. B) 10/70 × 100. C) 10/80 × 100. D) There is not enough information provided to calculate the unemployment rate.

At a fair carnival roulette wheel, a player can either win $10, $30, or $80 . If the player were to be made indifferent between playing the game or not, how much should the owner charge him?

a. $30 b. $40 c. $50 d. $80