When measuring income for the purpose of classifying people as poor, the measurement of income used is
A. money income.
B. cash income and noncash transfer payments.
C. comprehensive income.
D. economic income.
Answer: A
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The market structure that is most different from the model of perfect competition is:
A) monopolistic competition. B) monopsony C) oligopoly. D) monopoly.
Which of the following is the best example of "depreciation"?
A) An individual worker becoming tired at the end of an eight-hour work day. B) The notion that individuals obtain less utility from paying taxes than giving to charities. C) A truck used by a pizzeria to make deliveries is worth less at the end of one year. D) A rise in prices depreciating the value of consumers' real incomes.
Distinguish between a horizontal merger and a vertical merger
What will be an ideal response?
A price elasticity of demand of -0.67 implies
a. Demand is inelastic b. Demand is elastic c. Demand is unitary elastic d. Demand is perfectly elastic