What is the difference between national income and personal income?
A. Personal taxes.
B. National income includes income earned both in the United States and abroad, while
personal income only includes that income earned within the borders of the United States.
C. National income represents before-tax income, while personal income measures how
much is available for spending after all taxes have been subtracted.
D. National income represents income earned by American-owned resources, while personal
income measures received income, whether earned or unearned.
D. National income represents income earned by American-owned resources, while personal
income measures received income, whether earned or unearned.
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What would happen to the demand curve for Coke if Pepsi went on sale at the grocery store?
A. Shift to the right. B. Shift to the left. C. Stay the same. D. Unsure, there's not enough information.
If the level of government spending increases at the same time the Fed is pursuing contractionary monetary policy, we know that
A. incomes will fall. B. the interest rate will rise. C. incomes will rise. D. the interest rate will fall.
Which of the three functions of money are commonly met by each of the following assets in the U.S. economy?
a. paper dollar b. precious metals c. collectibles such as baseball cards, stamps, and antiques
A movement along the production possibilities curve would imply that A) the labor force has grown. B) productivity has increased. C) society has chosen a different set of outputs. D) productivity has declined because workers are demanding more leisure.