In 2017 about 12% of personal income in the United States came from
A. wage supplements.
B. property income.
C. wages and salaries.
D. transfer payments.
Answer: A
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Command economies are never effective at organizing the production and distribution of goods and services
Indicate whether the statement is true or false
The above figures show the market for gasoline. Which figure shows the effect of motorists increasing the number of times they take the bus to work rather than driving their own cars?
A) Figure A B) Figure B C) Figure C D) Figure D
In the above figure, if the milk industry is perfectly competitive, then the firm's marginal revenue curve is represented by
A) curve F. B) curve G. C) curve H. D) curve I.
As wages and prices become more flexible ________
A) wages becomes less responsive to unemployment deviations from the natural rate B) it becomes easier to differentiate the short-run from the long-run Phillips curve C) inflation becomes more responsive to unemployment deviations from the natural rate D) all of the above E) none of the above