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10 Cards in this Set
- Front
- Back
In the middle of this decade, the top______ percent of the households made more than 88,030
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20
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_______distribution of income relates to how income is distributed according to the factores of production (labor, land, capital, and entrpreneurship).
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Functional
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In the Private Sector, there are many choices to be made by Business managers regarding which projects to borrow for and which projects to invest in. These choices often contain a great deal of ________ as well as the potential for benifits (profits)
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a+b
Risk(the possibility of costs being more than originally perceived) Uncertainty(the possibility of benifits being less than originally percieved) |
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When positive spillovers exist, government can provide _____such as in agriculture and public education.
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Subsidies
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A number of factors account for the recent increase in the inequality of incomes, but the increased need for workers with strong __________ skills is important in explaining some of this change.
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Technical
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Using the table below, answer the question that follows the table:
Income Tax $10,000 $1,000 20,000 4,000 30,000 9,000 The “marginal tax rate” in going from $10, 000 to $20,000 of income is _________. |
30%
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There are many reasons why government spending (on a percentage basis) has __________ over the last 100 years including growth in urban areas that require more government services and the concept of equal opportunity.
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Increased
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The __________ Sector of an Economy is the resource allocation by government including city, county, state, and federal areas
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Public
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A _________ tax collects from individuals with lower income at a higher rate than individuals with higher income.
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Regressive
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A negative externality is when production or consumption inflicts costs on ___________.
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A Third Party
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