In the U.S., the largest share of national income is earned in the form of
a. taxes on production.
b. wages and salary.
c. interest earned on capital.
d. corporate profits.
B
You might also like to view...
Decreasing returns to scale production functions must be concave.
Answer the following statement true (T) or false (F)
Suppose Country A had net taxes of $30 million and government expenditures of $35 million. In addition, household saving in Country A totaled $5 million while consumption was $80 million
The government of Country A is running a budget ________ and national saving is ________ million. A) surplus; $5 B) deficit; -$5 C) deficit; $0 D) surplus; $25
Suppose your expenses for this term are as follows:
tuition: $5,000, room and board: $3,000, books and other educational supplies: $500. Further, during the term, you can only work part-time and earn $4,000 instead of your full-time salary of $10,000. What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college? A) $5,500 B) $8,500 C) $11,500 D) $14,500
A 10 percent increase in the price of tablets leads to a 10 percent decrease in the quantity demanded of tablets. The absolute price elasticity of demand for tablets is
A) 3. B) 0.3. C) 1. D) 10.