Your employer pays for your cell phone. The monetary value of this cell phone payment is
A. not included in either economic income or money income.
B. included in your economic income, but not your money income.
C. included in both economic and money income.
D. not included in your economic income, but included in your money income.
Answer: B
You might also like to view...
If the Federal Reserve announces that its target for the federal funds rate is falling from 3 percent to 2.25 percent, how do you expect workers and firms to react?
A) As long as the Fed's announcement is credible, workers and firms will increase their consumption and investment spending, which will increase aggregate demand and inflation. B) As long as the Fed's announcement is credible, workers and firms will decrease their consumption and investment spending, which will decrease aggregate demand and inflation. C) Workers and firms will incorporate the decrease in interest rates into their expectations of inflation, and they will expect inflation to fall as a result of Fed's policy announcement. D) If the Fed's announcement is not credible, workers and firms will not expect inflation to rise so they will increase their consumption and investment spending, which will decrease aggregate demand and increase inflation.
All of the following are advantages of organizing a business as a sole proprietorship EXCEPT
A) ease of formation. B) limited liability. C) ease of decision-making. D) single taxation.
Which of the following is not one of the three fundamental economic questions?
a. What happens when you add to or subtract from a current situation? b. For whom to produce? c. How to produce? d. What to produce?
If the total cost of producing 2 pounds of cheese is $6 and the total cost of producing 4 pounds of cheese is $8, then:
a. marginal cost of producing cheese declines as output increases. b. average total cost of producing cheese declines as output increases. c. average total cost of producing cheese increases as output increases. d. average total cost remains constant irrespective of the change in output. e. marginal cost remains constant irrespective of the change in output.