Linesha, a College Student Working Part-Time Received a Wage Increase

question 254

Multiple Choice

Linesha, a college student working part-time received a wage increase.An avid movie buff, she increased her purchases of Blu-ray discs and reduced her purchases of DVDs.Based on this information

• A)DVDs and Blu-ray discs are substitutes.
• B)Blu-ray discs are normal goods and DVDs are inferior goods.
• C)DVDs and Blu-ray discs are normal goods.
• D)the cross-price elasticity between DVDs and Blu-ray discs is negative.

Understand the selection process for new employees.

Learn the essential components of a written notice for employees.

Grasp the different methods of training employees effectively.

Understand the concepts of efficiency and effectiveness in management.

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Definitions:

Progressive Tax

A tax system in which the tax rate increases as the taxable base amount increases, meaning higher earners pay a higher percentage of their income in taxes.

Marginal Tax Rate

The rate at which the last dollar of income is taxed, indicating the percentage of additional income that will be taken as tax.

Income Increases

A rise in the amount of money received, especially on a regular basis, by an individual or group.

Progressive Tax

A tax system in which the tax rate increases as the taxable amount increases, thereby imposing a higher percentage rate on higher-income earners.