Exam 3: Economic Decision Makers.

One thing that is not true about cooperatives is that they ______

Personal income in the United States is primarily determined by selling labor services.

Katie had a before-tax income of $40,000 and paid taxes of $6,000. Ramesh had a before-tax income of $35,000 and paid taxes of $5,250. Based on this information, the tax system is _____

A common assumption that economists make about the behavior of elected officials is that they try to _____

The fastest-growing component of U.S. personal consumption is services.

When you throw trash out your car window, you are creating _____

You are more likely to hire your teenage child than a landscaping firm to mow your lawn _____.

Which of the following taxes is most clearly based on the benefits-received principle of taxation?

As real wage increases, the opportunity cost of working in the home increases.

Which of the following is the best example of a public good?

For additional revenue, some states also act as _____ in certain markets, such as in the sale of lottery tickets and liquor.

Trade restrictions can take any of the following forms except one. Which of the following is the exception?

A product that is produced in China and sold in the United States is called a(n) _____

Since 1950, in the United States, there has been _____

Stockholders' shares in the profits of a corporation ______

The most common form of business organization in the United States is the partnership.

Two important roles of the government in an economy are to safeguard private property and to enforce contracts.

Table 3.2 Table 3.2 Taxable income \ 5,000 \ 10,000 \ 20,000 Tax payments \ 500 \ 900 \ 1,600 -The table below shows tax payments made for various incomes. According to the information in the table below, the tax system is _____

In terms of the numbers of firms in the U.S. economy, the most common type of firm is the ______

Which of the following occurred during the Information Revolution?