Disposable income is obtained by

a. subtracting personal income taxes from personal income.
b. subtracting personal income taxes from national income.
c. adding transfer payments to national income.
d. adding transfer payments to personal income.


a

Economics

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Huge wage differentials paid for small differences in performance is an example of

a. the failure of the Lorenz curve to accurately reflect income distribution b. winner-take-all c. the failure of the Gini coefficient to accurately reflect income distribution d. a negative income tax system that disproportionately rewards the rich e. the different kinds of in-kind assistance that different people receive

Economics

The economic problem of scarcity

a. is unique to a capitalist economy. b. requires that choices be made among alternatives. c. disappears as technology advances. d. affects only less-developed countries.

Economics

Refer to the accompanying figure. The opportunity cost of increasing medical care from 200 to 400 units is ________ the opportunity cost of increasing medical care from 400 to 600 units.

A. greater than B. twice as much as C. exactly the same as D. less than

Economics

Which of the following is a private owner prohibited from doing?

What will be an ideal response?

Economics