Which of the following is included in personal income but not in national income?
a. compensation for workers
b. proprietors' income
c. corporate profits
d. Social Security payments
e. rent
D
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Everything else held constant, if total consumption increases from $600 to $800 because of an increase of disposable income of $400, then the mpc is equal to
A) 0.2. B) 0.4. C) 0.5. D) 0.6.
A futures contract hedges against the risks associated with the volatility of spot price
Indicate whether the statement is true or false
Absolute advantage is irrelevant, because knowing the absolute number of labor hours required to produce a good does not tell us if we can benefit from trade
a. True b. False Indicate whether the statement is true or false
Houston trades his golf club for Austin's tennis racket, and both are happy with the exchange. This is an example of Pareto efficiency.
Answer the following statement true (T) or false (F)