Suppose You Go to Work at a Company That Pays

question 10

Multiple Choice

Suppose you go to work at a company that pays $0.08 for the first day, $0.16 for the second day, $0.32 for the third day, and so on. If the daily wage keeps doubling, what would your total income be for working 29 days? Round your answer to two decimal places.

• A) $21,474,836.48
• B) $10,737,418.24
• C) $42,949,672.88
• D) $171,798,691.52
• E) $85,899,345.76

Analyze the role of government tax revenue in relation to public benefit and market welfare.

Understand the impact of taxes on labor supply decisions.

Grasp the variation in economists' perspectives on the effects of specific taxes.

Understand the concept of deadweight loss caused by taxes and its implications on market efficiency.

---

Definitions:

Indirect Effect

A consequence of an action that occurs through a secondary path or mechanism rather than directly from the cause.

Stress

The body's method of reacting to a challenge or demand, characterized by physical, emotional, or mental tension.

Blood Pressure

The pressure of circulating blood against the walls of blood vessels, an essential indicator of cardiovascular health.

Defensive Coping

Strategies employed to protect oneself from psychological harm, often by reducing awareness or avoiding distressing situations or emotions.