According to the above figure, planned consumption and income are equal at an income level of

A. Y2.
B. Y1.
C. Y0.
D. Y3.

Answer: C

Economics

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Which of the following best represents negotiation costs?

A) Dinesh has to spend time and effort to make sure that the chemical factory is living up to the agreed upon bargain that it will reduce the pollution it is releasing into the local river by 50 percent. B) Laila needs to come up with enough cash to pay the owners of the paper manufacturing plant, its attorneys, accountants, and negotiators so that a bargain can be reached with the paper manufacturer to reduce air pollution. C) Esperanza has to spend time and effort locating and organizing all the other people who have been adversely affected by the strong odors emanating from the local slaughterhouse in order to initiate the bargaining process. D) Rafael has to spend time determining whether the fertilizer manufacturer, the lead smelter, or the oil refinery is the cause of pollution seeping into the groundwater in his local community.

Economics

In the United States, the top 1% of income earners face an average federal tax rate of ________ and contribute ________ of all federal tax dollars received

A) 73%; 49.5% B) 20%; 5% C) 24%; 9.1% D) 29.4%; 24.2%

Economics