(I the Median for the Distribution of Number of Sales

question 198

Multiple Choice

(i. The median for the distribution of number of sales per hour is 6 sales per hour.
(ii. The first quartile for the distribution of number of sales per hour is 4 sales per hour.
(iii) For the distribution of number of sales per hour, 50% of the observations are between 4 and 6.5.

• A) (i), (ii) and (iii) are all correct statements
• B) (i) and, (ii) are correct statements but not (iii).
• C) (i) and, (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements, but not (i).
• E) (i), (ii) and (iii) are all false statements.

Understand the concept of elasticity in labor markets and its relevance to tax incidence and employer behavior.

Distinguish between different types of taxes (income, sales, excise) and their implications for taxpayers at various income levels.

Recognize the influence of taxes on labor market equilibrium, including employment levels and wage rates.

Understand the initial impact of a payroll tax on firms' costs and workers' take-home pay.

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Definitions:

Dividend

A portion of a company's earnings distributed to its shareholders, usually in the form of cash or stock.

Board of Directors

A board of directors is a group of individuals elected to represent shareholders and oversee major decisions of an organization, guiding its strategic direction and ensuring corporate governance.

Shareholders

Individuals or entities that own shares in a corporation, giving them certain rights and interests in the corporation's operations and profits.

Derivative Suit

A suit to enforce a corporate right of action brought on behalf of a corporation by one or more of its shareholders. Also called derivative action.