Which of the following professionals is most likely to be able to generate the income of a superstar ?

Related Mcqs:

1. A monopoly is able to continue to generate economic profits in the long run because ?

   A. there is some barrier to entry to that market
   B. Potential competitors sometimes don’t notice the the profits.
   C. the monopolist is financially powerful.
   D. antitrust laws eliminate competitors for a specified number of years.
   E. of all of the things described in these answers

2. Which of the following is likely to generate a compensating differential ?

   A. One employee is more attractive than another
   B. One employee is more educated than another
   C. All of these answers generated
   D. One employee works harder than another
   E. One employee is willing to work the nightshift while another is not.

3. The movement to free international trade is most likely to generate short-term unemployment in which industries ?

   A. Industries in which there are neither imports nor exports
   B. Imports competing industries
   C. Industries that sell to domestic and foreign buyers
   D. Industries that sell to only foreign buyers

4. A tax placed on a good that is a necessity for consumers will likely generate a tax burden that ?

   A. falls more heavily on sellers
   B. falls entirely on sellers
   C. falls more heavily on buyers.
   D. is evenly distributed between buyers and sellers.

5. The World Bank’s GNP per capita classification for low income middle income and high income countries respectively is ?

   A. less than $900, $900-$9000 and more than $9000
   B. less than $5000, $5000-$15000 and more than $15000
   C. less than $100, $100-$1000 and more than $1000
   D. less than $5000, $5000-$150000 and more than $150000

6. A tax for which high income taxpayers pay a smaller fraction of their income than do low income taxpayers is known as ?

   A. a proportional tax
   B. a regressive tax
   C. an equitable tax
   D. a progressive tax

7. If the income tax rate changes from 30% to 40% on income over Rs30,000 and a person’s income is Rs 31,000 then her marginal tax rate is ?

   A. 30%
   B. 10%
   C. 70%
   D. 40%

8. Which of the following are low income countries income country ?

   A. Canada
   B. United States
   C. Mexico
   D. Australia

9. Which of the following is true with regard to a tax on labor income? Taxes on labor income tend to encourage ?

   A. the unscrupulous to enter the underground economy
   B. the elderly to retire early.
   C. all the things described in these answers.
   D. second earners to stay home.
   E. workers to work fewer hours

10. Mariam earns more than Seamus and she came by her income fairly and honestly which of the following political philosophies would argue against the redistribution of income from Mariam to Seamus ?

    A. all of these answers
    B. libertarianism
    C. utilitarianism
    D. none of these answers