Personal income equals disposable personal income plus:
A. personal income taxes.
B. transfer payments.
C. dividend payments
D. personal savings.
Answer: A
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2 potential problems with macro equilibrium
What will be an ideal response?
Based on an analysis of macroeconomic outcomes under Republican and Democratic administrations, we would expect which of the following to occur?
A) Growth rates to be generally higher under Republican administrations. B) Macroeconomic policy to be relatively contractionary under Democratic administrations. C) Unemployment rates to be generally higher under Democratic administrations. D) Inflation rates to be generally lower under Democratic administrations. E) none of the above
A payment for the use of any resource over and above its opportunity cost is called
A. accounting profit. B. normal cost. C. economic profit. D. economic rent.
The biggest problem with the ________ was that it was unclear what specific acts were to be considered "restraints of trade."
A. Sherman Antitrust Act B. The Humphrey-Hawkins Act C. The Clayton Act D. The FTC Act