One difference between net domestic product and national income is that
A. national income includes government and business transfer payments.
B. net domestic product includes depreciation.
C. net domestic product includes indirect business taxes and transfers.
D. net domestic product doesn't include Social Security taxes or corporate retained earnings.
Answer: C
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Which of the following methods of restricting trade does NOT harm the overall economy?
A) a voluntary export restraint B) a tariff C) a quota D) Both answers A and B are correct. E) None of the above answers is correct because all the methods harm the overall economy.
In the late 1800s and early 1900s, the primary source of energy for manufacturing was
a. coal. b. petroleum. c. water. d. electricity.
While a focus on quality can lead to business success, its development is not free
Indicate whether the statement is true or false
Refer to the graph below for a monopolist in short-run equilibrium. This monopolist:
A. Has a loss per unit equal to DE
B. Has total fixed costs equal to area BEFC
C. Earns positive economic profit equal to the area of ABED
D. Will cease production since its economic profits are negative