Checks ________ money and credit cards ________ money
A) are; are
B) are not; are
C) are; are not
D) are not; are not
D
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Which of the following is true?
A) Opportunity costs are the same as explicit costs. B) A firm's net income is the same as its accounting profit. C) If a firm's accounting profits are positive, its economic profits must also be positive. D) A firm's accounting profit is equal to its economic profit.
For each of the following situations, choose a fiscal policy and explain how it could be used to correct the economic problem
a. Real GDP is below potential GDP following a financial market crisis. b. A positive demand shock increases aggregate expenditure beyond the full employment level and leads to fears of rising inflation. c. The economy is in a recession due to rising defaults on mortgages following the bursting of a housing bubble.
Which of the following was not used to subsidize railroad companies and their building of railroads?
a. Loans from the U.S. government b. Reduced corporate income taxes c. Land grants d. Direct payments based on the number of miles of tracks laid
The amount of after-tax income received by households is measured by:
A. discretionary income. B. national income. C. disposable income. D. personal income.