The September 11 attacks no doubt worsened the slowdown that had already begun earlier in mid-2000

Suppose that the government taxes income in the following fashion: 20 percent of the first $50,000 . 40 percent of the next $50,000 . and 60 percent of all income over $100,000 . Marshall earns $200,000 . and Lily earns $600,000 . Which of the following statements is correct?

a. Marshall's marginal tax rate is higher than Lily's marginal tax rate. b. Marshall's average tax rate is higher than his marginal tax rate. c. Lily's average tax rate is higher than her marginal tax rate. d. Lily's average tax rate is higher than Marshall's average tax rate.

The demand-for-money curve illustrates the __________ relationship between the quantity demanded of money and __________

A) inverse; the interest rate B) direct; GDP. C) direct; the interest rate D) inverse; GDP