Which of the following accurately represents income earned by all factors of production?
A. national income
B. disposable personal income
C. personal income
D. wages and salaries
Answer: A
You might also like to view...
Capital gains are profits that you earn on the sale of your
a. labor. b. money. c. financial asset. d. economics textbook.
Refer to the above diagram. Total utility:
A) increases so long as additional units of Y are purchased. B) becomes negative at 4 units. C) increases at a diminishing rate, reaches a maximum, and then declines. D) is maximized at 2 units.
If prices of goods and services are inflexible, then:
A. A negative demand shock would lead to increased real GDP in the short run B. A positive demand shock would lead to increased real GDP in the short run C. A negative demand shock would have no short-run effect on real GDP D. There would be no short-run demand shocks
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________.
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C