Which of the following is not included in taxable income?
a. wages
b. salaries
c. alimony received
d. interest on municipal bonds
d
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The new growth theory asserts that profits are
A) temporary, because the discoveries that lead to profits are eventually used by all. B) an illusion, since costs are never fully covered. C) permanent, because physical activities can be replicated. D) not an essential component determining whether the economy grows or not. E) permanent, because they are derived from discoveries.
Refer to Table 9-12. Which country has a comparative advantage in producing swords?
A) Estonia B) Morocco C) both countries D) neither country
When did housing prices start to fall during the most recent housing boom?
A) 2005 B) 2006 C) 2007 D) 2008
To say that the housing market is in equilibrium means that
a. there are no vacant houses b. the number of houses that are being constructed is equal to the housing stock c. the number of houses that are currently empty is equal to the number of households currently looking to buy a house d. the quantity demanded of houses is equal to the number of houses currently under construction e. the number of houses that people want to own is equal to the housing stock