On a particular saturday, tom had planned to paint a room in his house, but his employer gave him the opportunity to work that day. if tom works, he must hire a painter for $120. for tom to have a positive cash flow from working and hiring the painter:
a. tom must earn more than $160 if he is in the 25% marginal tax bracket.
b. tom must earn at least $160 if he is in the 33% marginal tax bracket.
c. tom must earn at least $150 if he is in the 25% marginal tax bracket.
d. tom must earn at least $135 if he is in the 15% marginal tax bracket.
e. none of these.
answer: a. stagflation
explaining: stagflation was developed during the 1960s and 1970s. in economics, stagflation, a portmanteau of stagnation and inflation, is a situation in which the inflation rate is high, the economic growth rate slows, and unemployment remains steadily high. it raises a dilemma for economic policy, since actions designed to lower inflation may exacerbate unemployment, and vice versa. the term is generally attributed to iain macleod, a british conservative party politician who became chancellor of the exchequer in 1970; macleod coined the phrase in a speech to parliament in 1965.
a and c are incorrect because a blog is not used for personal communications
d blogs are not used to communicate with one person